Aggelakis – Launching investments of 20 million euros

With a growth rate of over 30%, the company Aggelakis SA is “sprinting” this year, launching the implementation of investments amounting to 20 million euros with the aim of verticalizing production and expanding its presence nationally and internationally. At the same time, it is strengthening its portfolio with new innovative products, through cooperation with Greek universities, while it is very close to the acquisition of a primary production unit in Attica.

Thanos Aggelakis, CEO of Aggelakis SA, in a meeting with journalists, expressed his optimism that the company’s business plan will be implemented despite the difficulties they have created for all companies in the poultry industry, energy costs, increasing heating costs and high feed costs. As he said, “compared to other categories of food, chicken has the lowest prices. Specifically, in the companies of the sector, price increases of 6-8% are recorded, while it is not excluded that there may be more in the next period “.

In this context, Mr. Angelakis, as president of the Interprofessional Poultry Organization of Greece, sent a letter to the Ministry of Agriculture, Food and Agriculture, requesting support for poultry farms from the increases in electricity and heating costs. According to Mr. Angelakis, the support measures recently announced by the government to limit the effects of the increase in electricity prices concern domestic consumers and do not include poultry farms. This, combined with rising feed costs have created serious financial problems for producers. “There must be immediate measures to support poultry farms so that we do not have new price increases,” said Mr. Aggelakis, adding that “the government understands the problem and we believe that it will respond to our request.”

With the aim of increasing production, the company will make investments of 20 million euros over the next five years, which include, among other things, the expansion of the poultry slaughterhouse, the purchase of new cold rooms, the creation of a pre-cooked and ready meals unit, the modernization and expansion of the hatchery, and the entry of the company in the production of energy from photovoltaics for own use. Equity, development law grants as well as bank financing will be used for the investments. It is noted that, next spring an investment of 2 million euros will be completed in mechanical equipment and packaging machines, while the company recently acquired an egg hatchery in Avlona.

“Aggelakis” is one of the largest poultry companies in Greece with more than 300 employees and associates. Since 1992, it maintains a state-of-the-art unit in the area of ​​Pournos, Evia. The feed production capacity is 70,000 tons per year and the poultry farm produces at least 6 million chickens per year. The company in 2020 presented sales of about 20 million euros while for the entire year this year is expected to reach 27 million euros.

In terms of exports, which correspond to 8% of the turnover, the company’s products are located in more than ten countries worldwide with main markets in Germany, the Czech Republic and Austria. This year, exports recorded a growth rate of 35% with the latest development of the company entering the Hong Kong market where the “Olive” product brands are distributed by a local partner in retail chains and in the food service market, while they are also available for sale at specific locations. The goal of the management is to expand the company’s partnerships to enter new markets.