Halcyon Equity Partners is pleased to announce its investment in Proionta Zymis Rodoula S.A. (“Rodoula”), one of Greece’s leading manufacturers of frozen dough, desserts and bread products, serving foodservice, hotels, supermarkets and export markets, under the brand Rodoula. The investment will support Rodoula’s next phase of growth, including the construction of a new production facility, continued product innovation and further international expansion. The transaction is fully aligned with Halcyon’s strategy of investing in the “Best of Greece”, backing leading Greek businesses with strong management teams, scalable operational models and significant growth potential.
Founded in 1999, the Company has evolved from a family-owned workshop into a leading industrial producer with a diversified portfolio spanning frozen dough and confectionery products, being the only company in this sector with such a broad offering under one brand, “Rodoula”. The Company operates 3 distinct production facilities in Athens, 2 logistics centers and serves more than 3,500 points of sale across foodservice, retail, hospitality and export channels. Today, Rodoula exports to more than 30 countries, with exports representing c.20% of 2025 revenue and has established a growing footprint especially across Europe and North America.
Over the recent years, Rodoula has delivered strong growth with increased profitability, supported by continuous investments in new product development, operational excellence and geographic footprint. The next key pillar of Rodoula’s growth phase is the construction of a new 32,000 sqm production facility on Company-owned land in Acharnes, Athens. The investment is expected to consolidate all existing production and logistics facilities into a single, highly automated site, significantly increasing capacity and enhancing operational efficiency.
Halcyon Equity Partners will partner closely with management to support the execution of Rodoula’s strategic plan, focusing on production transformation, international expansion, product innovation and further market penetration, both domestically and internationally.
“Since establishment, Rodoula has been built on a commitment to quality, innovation and long-term customer relationships. We are proud of the platform we have created and excited to welcome Halcyon as a partner for the next stage of our journey. Their experience in supporting growth-oriented Greek businesses makes them the ideal partner for our new chapter of growth.”, said Panagiotis Karachalios, Co-Founder and President of the BoD of Rodoula S.A.
“This partnership marks an important milestone for Rodoula and a meaningful step towards realizing our long-term vision for sustainable growth, innovation and international expansion. Together with Halcyon Equity Partners, our people and the construction of the new production facility, we are creating the conditions to further enhance our operating profitability, broaden our product portfolio and capitalize on new growth opportunities, strengthening our presence in international markets and further showcasing the value of Greek entrepreneurship. Our ambition is to further consolidate our position as one of the leading Greek companies in the sector, both in Greece and abroad,” said Ilias Karachalios, Co-Founder and Chief Executive Officer of Rodoula S.A.
“Rodoula embodies the type of business we seek to invest in: a category-leading Company with a proven track record, strong management team, resilient market position and significant growth potential. The Company’s planned production transformation, expanding export footprint and commitment to innovation create an exceptionally attractive platform for long-term value creation.”, said Yannis Bathianakis, Partner at Halcyon Equity Partners.
“We are excited to partner with the Karachalios family and support Rodoula’s growth journey. Halcyon will work closely with management on the execution of key strategic initiatives, including the development of the new facility and international expansion. We believe Rodoula is well-positioned to capitalize on the growing demand for high-quality frozen bakery and pastry products both in Greece and abroad.”, said Lykourgos Galanopoulos, Partner at Halcyon Equity Partners.
We extend our sincere gratitude to Deloitte Greece, KPC Finance, Lambadarios Law Firm and PwC Greece for their support in completing the transaction.
About Rodoula S.A.
Rodoula is one of Greece’s leading manufacturers of frozen dough, desserts and bread products serving foodservice, hospitality, retail and export customers. Founded in 1999, the Company operates three production facilities and two logistics centers in Athens and exports to more than 30 countries worldwide. Through a combination of manufacturing expertise, product innovation and strong customer relationships, Rodoula has established itself as one of the leading players in the Greek frozen bakery market.
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 €208Μ, 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.