Theodoropoulos (Chipita) – Sees large price increases starting January

Businessman Spyros Theodoropoulos from the platform of the Fortune CEO Initiative 2021 spoke about wild inflation, which is very high in food, pointing out that the central banks are trying to forestall it from becoming structural and passing on to salaries, however he estimated that they will not succeed.

“Price increases are huge. It is not possible for companies not to raise their prices by 10%. In January we will go for price increases, when companies will be forced to spend it on wages. We will live with inflation in the coming years. It is a new and abrupt economic reality.”

He cited as an example price increases of 400% in vegetable fats, up to 60% in packaging materials, 18% in sugar, 15% in cocoa and up to 60% in cereals.

Acquisitions: Record year in 2021

Regarding foreign investors, he commented that 2021 should be a record year for acquisitions. As he said, foreigners have the opportunity to consolidate and export, while he pointed out the role that Greek businessmen will be called to play, when the funds disinvest after five years. Speaking about collaborations, Mr. Theodoropoulos noted that Greeks do not have the mentality of associating and expressed doubts about whether mergers will be promoted with the incentives that are institutionalized.

At the same time, he characterized the strike in the restaurant as “extreme things” while he also expressed concern about the approach of the state. “I’m afraid we have pinned many of our hopes on the Recovery Fund, which will be aimed at large organizations. We saw that the first projects that joined were infrastructure projects. The Development Fund cannot work for the private sector,” he said, among other things.