Attica Ventures invests in Mastiha
17 May 2005
Procedures for the first venture capital investment
by the ZAITECH FUND, managed by ATTICA VENTURES (a
member of the Bank of Attica Group) in Mastiha Shop
were successfully completed.
Mediterra S.A. (the company operating the Mastiha
Shops and a subsidiary of the Chios Mastiha Growers
Association (EMX)) was established in 2002 as a result
of a decision taken by the EMX to highlight and advertise
the many possible uses of gum mastic via innovative
and groundbreaking products and activities.
The fact that gum mastic is only produced on the
island of Chios constitutes a clear natural comparative
advantage unique around the globe and with the establishment
of the company this product began to be advertised
accordingly. Within a short period of time the company
To develop a network of 5 stores trading under the
name Mastiha Shop in key locations (Chios, Syndagma
Square in Athens, Thessaloniki, Athens El. Venizelos
International Airport, Heraklion Crete).
Develop innovative, unique gum mastic-based products
after many years of research and important business
partnerships with major producers – suppliers which
ensure product quality. It is worth noting that from
2003 to date 10 research programmes have been completed
or are under way at 3 universities in Europe in collaboration
with the renowned R&D Department of the EMX.
innovative approach and business activity of Mastiha
Shop at all levels (in terms of its business model,
products, R&D, packaging, marketing, communication)
has been confirmed by the numerous prizes and awards
that the company has managed to attain (numbering
more than 10 in total) in just 2 ½ years in business.
As Attica Ventures’ CEO, Giannis Papadopoulos, pointed
out, “... EMX and Mastiha Shop are a unique, innovative
model of partnership and business innovation and prove
that in the Greek regions there are remarkable business
initiatives. Our aim in participating is to jointly
promote this effort to present the company and its
products not just in Greece but also in large markets
in Europe and the world via specialised, targeted
points of sale and distribution networks.
FROM THE ATTICA VENTURES PRESS OFFICE
* This press release and other additional information
(logos, etc.) can be found at http://www.attica-ventures.gr/news/17-05-2005.php.