Sale Agreement of Pavlidis Marble Group – Granites

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The Pavlidis Marble-Granites Group comes under the control of the investment fund ECM Partners. Mermeren Kombinat announced that it signed a definitive agreement with the fund to sell 100% of the company.

The announcement of Mermeren

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Mermeren Kombinat AD, Prilep (“Mermeren”) has been informed that the holders of the shareholding interests of Pavlidis SA Marble – Granites (“Pavlidis”) have signed a definitive agreement with funds managed by ECM Partners to sell 100% of Pavlidis which holds 100% of the share capital of Stone Works Holdings Coöperatief U. A. (“Stoneworks”), owner of 89.25% of the paid-up capital of Mermeren.

Completion of the transaction is subject to the necessary approvals from the Greek and North Macedonian Competition Protection Committees.

Pavlidis Marble – Granites

The company was founded in 1980 by Euclid Pavlidis, who had a vision and life goal to highlight the white marble varieties of Drama and to export Greek marble abroad. Its headquarters and industrial facilities, located in Drama, are the centre of marble extraction in our country and cover an area of 30.000 sq.m. in a total area of 100.000 sq.m. in the Industrial Area of Drama. 

The company’s quarries are located mainly in Northern Greece and neighbouring countries. Meanwhile, the company’s white marble has “dressed” buildings worldwide, including the Reflection Towers in Singapore, iconic buildings on streets, such as Chanel in New York, the Porsche Design Tower in Miami, etc. In Greece, he has also left his imprint on the Agemar Group headquarters.

The company produces more than 300,000 tons of marble block and slab volumes yearly and exports to more than 40 countries worldwide. As for the group’s turnover, based on the latest published balance sheet, it reached 119.2 million euros in 2021 from 101.4 million euros in 2020, representing an increase of 17.53%. Profit after tax ended at 40.7 million euros from 26.9 million euros in the previous year, an increase of almost 55%.