Spyros Theodoropoulos: Close to the acquisition of ION chocolate maker

Spyros Theodoropoulos’ desire to acquire ION dates back many years, even before the death of Ioannis Kotsiopoulos, the patriarch of the largest Greek chocolate industry.

Today, Spyros Theodoropoulos and Tina Kotsiopoulou, the niece of I. Kotsiopoulos and head of the company, according to secure information from OT, seem to be in advanced discussions, with the well-known businessman now close to acquiring the chocolate industry.

Just a few days after the announcement of the acquisition of the company Hellenic Juices SA based in Larissa, Spyros Theodoropoulos returns more dynamically focused on his goal of creating a strong food group, with a presence in a wide range of consumer products, with a significant market share in Greece, but also with strong export activity. In case the deal is successfully completed, its portfolio is further strengthened.

The failed attempts

The acquisition of ION had been attempted in the past, in addition to multinationals, such as Nestle, by representatives of Greek business and specifically Vivartia. Market circles said at the time that the pioneer was Spyros Theodoropoulos. However, no one has succeeded to date.

An exception is the decade 1988-1998, when its Greekness suffered a “blow”, when 24.5% of its shares, which were out of the control of the two owners, were sold to Kraft Jacobs Suchard. Ioannis Kotsiopoulos regained control of his industry and happily declared everywhere that “now I am not selling anything”.

Sales over 110 million euros

In 2020, the turnover of ION amounted to 118.91 million euros, compared to 118.84 million euros in 2019, while pre-tax profits decreased to 11.70 million euros, from 14.27 million euros in 2019.

In the same year, the industry had 931 employees. Apart from a strong share in the domestic market, it exports to: Canada, United States, Panama, United Kingdom, Germany, Romania, Bulgaria, Serbia, Turkey, China, South Korea, Japan, Russia, Egypt, UAE, Syria and Tunisia. It should be noted that exports resulted in sales of 11 million euros for 2020, from 11.18 million euros in 2019.

ION has three state-of-the-art production units in Arta, Neo Faliro and Markopoulo, Attica. The company also maintains a production unit in Sofia, Bulgaria. This subsidiary strengthens the company’s presence in the Russian market, while it also produces Nucrema products.

Sweet Viola and an ode to Chocolate

Sweetening the modern industrial history of Greece, ION SA INDUSTRY AND TRADE OF COCOA AND CHOCOLATE was founded in 1930, when a group of friends opened a chocolate factory on Piraeus Street, in the then Community of Neos Faliros.

In the same headquarters since its founding, the company takes its name from the well-known aromatic flower “ion the fragrant” (in Greek – sc. name Viola odorata) and the ambition of its shareholders was to become recognized chocolate makers!

Five years later, ION merged with the NASKO candy and confectionery industry, owned by businessmen Nassiopoulos and Kotsiopoulos.

However, the foundations of the current business scope of ION as one of the largest Greek food industries, go back to after the Second World War.

In 1947, the ION almond chocolate was launched, the famous “your first and eternal love”, which still holds a leading share in the market.

With the general slogan “as if it were your first time” ION continues its course in the 1950s, which will become a milestone for the chocolate industry.

At the helm of the company is the nephew of Konstantinos Kotsiopoulos, and it will essentially influence the subsequent course of ION.

With his close friend Giorgos Karkazis he founded in 1956 the trading company “I. Kotsiopoulos Brothers”, which has as its object the distribution of ION products. And it lays the foundation stone for the construction of an extensive distribution network with the operation of its first store in the shopping center of Athens.

A little later, ION assimilated the company NASKO and gradually expanded to new branches of confectionery and chocolate, such as wafers, chocolate pastes and croissants.

In 1975, ION established a wafer factory in Arta, which in 1994 expanded its production capacity to the croissant sector.

In 1976, ION creates for the first time in Greece a chocolate with a whole hazelnut, “Noisetta”. This is the most successful chocolate on the market that remains to this day in the top positions in the category.

In 1977, the “Sokofreta” of ION was launched in the Greek market and quickly became the most favorite wafer in Greece. In 1986 ION creates the first square Greek chocolate, with a rich range of new flavors and in a package with easy opening, called “Break”.

In the late 1990s, ION acquired the company INTERIA SA, which produces the well-known NUCREMA product and the Mabel chocolate factory, which specializes mainly in seasonal / festive chocolate and confectionery products.