KRI-KRI SA

ENTRY TO UK’s GREEK YOGURT MARKET AND EXPANSION OF INVESTMENT PLAN

KRI-KRI, consistent to its export-oriented strategy, inaugurates its presence to theUK's Greek yogurt market, by launching a trade agreement with Waitrose, a British supermarket chain. Waitrose is one of the largest British supermarket chains, having more than 300 stores all over the country. Besides, it emphasizes on products' high quality and healthy diet.  

The trade agreement between KRI-KRI and Waitrose is to produce Greek yogurt on a private label. It marks the entry of KRI-KRI to the most promising Greek yogurt market inEurope. The total size of theUK's Greek yogurt market is estimated to be more than €200m and it is booming. However, more than 80% of the market consists of Greek style yogurts, which are locally produced. Hence, there is a huge potential for KRI-KRI, on promoting the “authentic” Greek yogurt that is gradually established as a key part of British daily diet.

The rising market shares in the yogurt market ofGreece, combined with the increasing demand for Greek yogurt from abroad, led KRI-KRI's management to revise company's investment plan. The revised plan of €8m aims to further increase yogurt's production capacity, by the summer of 2014.