Achaia: The largest winery in the country

In recent years, Aegiou Winery and Distillery under the trade name Cavino has quietly evolved into the country’s largest winemaking industrial company in terms of financial size.

The Aegean winery created in 1958 by Konstantinos Anastasiou and Ioannis Douskas managed to surpass even Hellenic Cellars – Kourtakis, as last year it exceeded 30 million euros in turnover, with 66% of its revenue coming from exports to over 50 countries!

Cavino under the management of the second generation of the founding families, with Yiannis Anastasiou in the position of managing director and Theodoros Anastasiou in the position of president, also proceeded with a major deal concerning one of the emblematic distilleries of northern Greece, the ” Babajim”, which strengthens Cavino’s portfolio and at the same time gives an outlet to the well-known distillery.

As part of the agreement, “Hellenic Tsipouro”, a subsidiary of Cavino, paid 210,000 euros to the Vavatsis brothers, in order to receive all their shares, and 116,170 euros to the heir Christos Babatzinopoulos for 10%. As a result, “Hellenic Tsipouro” now controls 60% of the shares of “Babajim”, simultaneously taking over the management and 40% remains with Christos Babatzinopoulos.

The results of the 2022 fiscal year posted by Cavino on GEMI show that the turnover of the Group (Cavino, Mega Spilaio IKE, Elliniko Tsipouro, Babatzim) reached 30.83 million euros, from 25.94 million euros in 2021, making a 12% increase. From last year’s turnover, 20.6 million euros represent exports of products to countries mainly in the EU, 67% of the total. The remaining 33% was from sales in the domestic market.

The Group’s EBITDA increased by 18% compared to 2021 and reached 3.21 million euros in the previous year. Also, net profit increased by 9%, to 1.65 million euros, from 1.51 million euros a year ago.