Halcyon Equity Partners S.C.A. SICAR (“Halcyon Equity Partners”) announces its investment in Kayak S.A. (“Kayak”), a leading Greek food company offering premium ice cream, frozen yogurt and desserts. This investment is part of Halcyon Equity Partners’ broader strategy to “Invest in the Best of Greece” and is underpinned by Kayak’s strong brand portfolio and significant growth potential, both domestically and internationally.
Founded in 1993 by the Stavridis family, Kayak specializes in the production, marketing and sales of premium ice cream, frozen yogurt and desserts offered through three distinct brands – Kayak, Chillbox and Goatit. The Company’s network currently includes more than 80 owned and franchise stores in Greece and abroad, while its products are also offered via more than 2,000 HoReCa food-service points.
Kayak operates a state-of-the-art production facility in Koropi, equipped with cutting-edge technology for the production of its entire product portfolio. The Company’s three brands address complementary segments of the market: Kayak, an award-winning premium gourmet ice cream brand, Chillbox, the leading frozen yogurt chain in Greece with a distinctive do-it-yourself concept and Goatit, a healthy ice cream concept made with 100% goat milk sourced from selected producers in Crete.
Halcyon Equity Partners’ investment will support Kayak’s next phase of growth by accelerating its international expansion, strengthening its commercial presence and enabling further investments in product innovation and production capacity. A key pillar of the Company’s growth is a bolt-on acquisition strategy, expected to further enhance its product portfolio and strengthen its global market presence. Combined with continued organic growth and operational improvements, this strategy is expected to further reinforce Kayak’s position in the premium ice cream, frozen yogurt and desserts markets in Greece and selected international markets.
“Our partnership with Halcyon Equity Partners marks an important milestone for Kayak. Since 1993, our goal has been to create premium products that our customers enjoy, while building brands that stand the test of time. With Halcyon Equity Partners’ support, we are ready to accelerate Kayak’s growth, continue investing in innovation and strengthen our presence in Greece and internationally.”, stated Akis Stavridis CEO of Kayak.
“Kayak combines a strong market position, a resilient business model, and a differentiated product offering across the premium ice cream, frozen yogurt, and dessert segments. By working closely with the founders and the management team, we will support the Company’s next phase of growth and continued investment in innovation. We are excited to support Kayak’s growth by combining organic expansion with an active buy-and-build strategy that positions the Company to lead market consolidation in Greece and expand internationally.”, said Eleni Bathianaki, Managing Partner at Halcyon Equity Partners.
We extend our sincere gratitude to Lambadarios Law Firm and PwC Greece for their support in completing the transaction.
About Kayak
Kayak was founded in 1993 by the Stavridis family and produces and markets premium ice cream, frozen yogurt and desserts through the Kayak, Chillbox, and Goatit brands. With a state-of-the-art production facility in Koropi, a network of more than 80 owned and franchise stores across Greece and Cyprus, and a team of 125 employees, the company combines culinary innovation with consistent quality and reliable service.
About Halcyon Equity Partners S.C.A. SICAR
Halcyon Equity Partners S.C.A. SICAR is a private equity fund that invests in mature Scale-up and Growth SMEs & Small Mid-Caps in Greece, with the goal of driving their growth. With AuM of €208M, Halcyon Equity Partners focuses on companies with strong management teams across various sectors, depicting a competitive edge and a scalable business model, showing strong growth potential.