Greek fast foods storm on our market

Greek fast food companies Everest, Goody’s and Gregory’s Snacks plan to expand to East European states, with the stated purpose of countering competition coming from the part of multinational companies such as McDonald’s, according to Reuters.

Everest has recently reached an accord with businessmen of Cyprus and Romania, where it will open several restaurants. At the same time, the company intends to build up a pastry product plant in Romania, in cooperation with Elgeka firm.

Holding a network of 73 restaurants in Greece, Gregory’s Snacks begins its international expansion in Romania, too, as it has already started to build a food product plant in Bucharest, scheduled to become operational by the end of this year, together with two restaurants.

“We are in talks with local firms of Romania on the establishment of a joint venture in Bucharest and there are five or six companies interested in our plans for Cyprus,” stated the financial director of Gregory’s Snacks, Antonis Papavissarion.

Goody’s, the Greek company with the oldest tradition in the fast food domain, opened its first restaurant in Salonic, in 1975, and is getting close to a saturation level on the internal market, according to analysts. As a result, Goody’s focuses on developed European markets, and it could enter the Austrian market in 2001.