Greek company Loulis Mills recently announced a capital increase in its 100%-owned subsidiary, Loulis International Foods Enterprises Bulgaria Ltd based in Nicosia, Cyprus, with the sum of €5.5 million. This aid was implemented through an increase in the share capital of the subsidiary with the payment of cash and the issue of 3,216,376 new ordinary registered shares worth €1.71 each.
The funds raised by Loulis International Foods Enterprises Bulgaria Ltd through the increase of its equity share capital will be used to cover its participation in its 100%-owned subsidiary Loulis Mel – Bulgaria Ead based in General Toshevo, Bulgaria.
The company Loulis Mel – Bulgaria Ead also proceeded in turn to increase its share capital of €7.250 million, in two stages: First, by capitalizing loans of €2.928 million from the parent company of Loulis International Foods Enterprises Bulgaria Ltd and, then, by cash payments from its parent company amounting to €4.322 million. This increase was made in order to boost the company’s capital, as well as to repay its loans.
About Loulis Mills
Loulis Mills is currently active in Greece and Bulgaria with four state-of-the-art production plants at Sourpi, Keratsini, Thiva and Toshevo, occupying the top spot in the Greek flour industry in terms of milling, sales and technology.
The advanced technology employed by Loulis Mills provides its customers with over 170 varieties of flour, thus ensuring a product range that meets all the demands of the professional baker. In addition, the company has a full range of bakery and pastry raw materials as well as ready-made mixes, under the brand name Kenfood.
Loulis Mills features the best and largest distribution network in Greece with a large fleet of privately owned trucks and silo carriers as well as many associate carriers serving customers all across the country.
Loulis Mills employs 315 people and is constantly investing in new technological resources and the upgrading of its plants so that it is always competitive and remains a front runner in the Greek flour industry.