Innovation Brain, a fund seeking value creation through Turnaround, Innovation and Growth, on Wednesday confirmed its interest for Hellenic Sugar Industry.
In an announcement, Lukas Fecker, CEO and founder of the fund, said, "At this point we are at the final phase of talks with Hellenic Sugar Industry and close to a mutually-beneficial result. We are interested in the group, including its four factories in Greece and two in Serbia and we will focus our efforts in reviving and developing its activities in Greece".
"Our goal is to improve operating procedures, boost product and develop new series of products, implementing significant investments. We believe this is a win-win situation, despite the current bad situation in Hellenic Sugar Industry, as we plan to expand the business and to invest in new machinery and education towards a modern sugar industry. A new capital inflow and a new beginning is what Hellenic Sugar Industry needs," Fecker said.