The Piraeus-ΤΑΝΕΟ Capital Fund" (PTCF) venture capital fund acquired a holding in the U&S UNISMACK S.A. through a share capital increase in the second half of 2011. The venture capital fund, managed by Piraeus Capital Management (PCM), has been set up jointly with Piraeus Bank and the New Economy Development Fund (ΤΑΝΕΟ).
The company U&S UNISMACK S.A.- SNACK FOOD INDUSTRIES (brand name: Wellaby's), founded in 2006 in the Industrial Areas of Kilkis, manufactures and trades snack food (e.g. crackers, mini crackers and cheese ups) in various flavours. The Company products are gluten free and, coupled with their exquisite taste and various positive nutrients are an offer for consumers who opt for healthy diet.
UNISMACK exports almost 98% of its products to international markets (e.g. UK, US., Australia, Slovakia, Germany, South Africa, Scandinavian countries, etc.) of which 70% are exported to the UK, US and Australia. In these markets, the Company products are sold in the best super market chains (e.g. Tesco, Sainsbury, Asda, Wholefoods, etc.), in special food stores as well as selected points of sale (e.g. Marks & Spencer - UK). In Greece, Company product range with the brand name Wellaby's are sold in large super market chains (e.g. ΑΒ, Thanopoulos, etc.) as well as in special food stores.
The Company's CEO Dimitris Stratakis stated "PTCF investment in UNISMACK is expected to assist the Company in implementing its business plan, which is summed up in the manufacturing of natural, quality and innovative, gluten free healthy diet products and profitable distribution in dynamic foreign markets (e.g. Europe, N. America, Australia, etc.) as well as in the Greek market."
Lucas Pilitsis, Chairman of PCM, PTCF management company, and Venture Capital and Piraeus Bank Group Private Equity CEO, stated that "by investing in UNISMACK the fund continues, in this highly adverse juncture for the Greek economy, to support innovative Greek companies with a clear competitive edge, efficient management team, specific long-term development strategy and outward looking character. The strategy of the Venture Capital and Piraeus Bank Group Private Equity focuses on investments that highlight New Entrepreneurship and Innovation in the strategic areas of technology, Renewable Energy Sources and companies in niche markets, which can respond effectively to the major challenges of the global competitive environment.