Zinzino has acquired 49% of the shares and votes in the Cypriot olive oil producer Cleanthi Alpha-Olenic LTD. The company said this acquisition is another strategically important step in their growth plans focused on improving personal health and well-being on a global scale with innovative biotechnology and a pioneering product portfolio marketed through direct sales.
Cleanthi is an olive oil producer with a unique and patented process of pressing olive oil originating from certified Koreneiki olives from orchards owned by farmers for several generations without the use of artificial fertilizers or pesticides.
The business is currently run on a small scale, with most of the production going to Zinzino’s existing products R.E.V.O.O. and BalanceOil Premium. Through the partnership, Zinzino gains access to Cleanthi’s IP rights, which opens up opportunities to develop and increase brand protection for Zinzino’s BalanceOil, the product group that currently accounts for about 60% of the Group’s total revenue.
Going forward, Zinzino intends to expand production at Cleanthi to secure olive oil supply for the increased internal demand arising from Zinzino’s global expansion and high sales growth.
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