Greeks at Tyras interested in Prodlacta majority stake

Greek dairy producer Tyras, which cumulates 10 million euros in turnover from two companies, has paid over 2.2 million euros for a 20% stake in Brasov-based Prodlacta, with the transaction being conducted via Greece-based Rodopi, a company controlled by Tyras. The Greek group intends to become the majority shareholder of Prodlacta Brasov. “We have many investment plans aimed at Romania, which we want to carry out in the 2009-2011 period. We want to invest around 20 million euros in 2009 alone in our Romanian businesses,” said Tyras representatives. Tyras, a family business owned by brothers Dimitrios and Michail Sarantis, has been present in the Romanian dairy industry for several years now, as a shareholder of Tyrom, based in Baraolt, and of Olympus Dairy Industry, based in Brasov county. The two shareholders have nothing to do with the producer of Elmiplant cosmetics, Sarantis Romania. According to Trade Registry data, Tyras holds 99.5% in Tyrom, a company set up in 1999, and 66.8% in Olympus, with its second largest shareholder being Greece-based Olympos Larisa Dairy Industry.