We are delighted to have successfully advised the founders and sellers of a 49% share in Cypriot olive oil producer Cleanthi Alpha-Olenic Ltd and the strategic joint venture with Zinzino AB, a global direct sales company from Scandinavia specialising in test-based, personalised dietary supplements and scientific skincare, a company whose shares are listed on the Nasdaq First North Premier Growth Market.
Cleanthi Alpha-Olenic is a Cypriot olive oil producer with a unique and patented process of pressing olive oil originating from certified Koreneiki olives from orchards owned by farmers for several generations without the use of artificial fertilizers or pesticides. The manufacturing process enables the production of olive oil with up to 30 times the polyphenol content of regular olive oil.
Going forward, Zinzino intends to expand production at Cleanthi to secure olive oil supply for the increased internal demand arising from Zinzino’s global expansion and high sales growth. At the same time, external revenues for Cleanthi can be increased similar to the model previously used successfully for the Zinzino group’s manufacturing unit, Faun Pharma AS in Norway.
The Kaimakliotis team was led by Pavlos Kaimakliotis (Partner) and Panayiota Pieri (Counsel).