Granarolo acquires Greek firm Quality Brands International

In the latest in a series of acquisitions, Granarolo has gained a 50.01% stake in Quality Brands International (QBI) and thereby secured a major market share in Greece, a region where the group has been selling its products through the company for the last 10 years.

The decision to invest in the country was based on two factors: Greece’s high per capita cheese consumption (amongst the highest in Europe) and QBI’s position within the main Greek distribution chains.

The operation will also benefit Quality Brands International, which will be able to distribute its Epirus brand name through Granarolo’s international sales network spanning more than 20 countries.

The goal is now to reach sales of 23 million euros in 2017 compared to the 2016 turnover of 20.2 million euros.