The Hellenic Competition Commission (HCC), in Plenary Session, by its unanimous Decision No. 894/2025, approved, pursuant to Article 8(3) of Law 3959/2011, the acquisition of sole control over the company “DODONI SINGLE-MEMBER S.A. – AGRICULTURAL DAIRY INDUSTRY OF EPIRUS,” trading as “DODONI S.A.,” by the company “ELLINIKA GALAKTOKOMEIA S.A.,” trading as “OLYMPOS – RODOPI – TYRAS.”

The concentration concerns the relevant markets for the supply of conventional/organic raw milk (cow’s, sheep’s, and goat’s milk) and the relevant markets (submarkets) of final products (markets for white milk, chocolate milk, yogurt, cheese products, butter, cream, milk desserts, plant-based products, packaged juices, ready-to-drink tea (RTD), and milk-based cakes/slices). The geographical scope of the above product markets is considered to be the Greek territory.

The assessment of the concentration was carried out per relevant market, both at national and regional level, and was based on data provided by the notifying party, information requests to competitors and to ELGO-DIMITRA, as well as on previous Greek and EU case law.

From the examination of the concentration in the markets for the supply of raw milk in Greece, it was found that the combined market shares of the participating companies either fall below 15%, or exceed 15% but do not increase by more than 5%. The same holds true per category of conventional and organic raw milk.

At the regional level, the examination of the concentration indicates an increase in the market share of the new entity in the region of Epirus (regarding the supply of conventional raw sheep’s and goat’s milk). In this region—which supplies only 4% of total conventional raw goat’s milk and 7% of total conventional raw sheep’s milk—the company DODONI is based and has historically held a very high share of the milk supply market, while “ELLINIKA GALAKTOKOMEIA S.A.” mainly sources milk from other regions (such as Western Macedonia and Thessaly).

Based on the Authority’s investigation, and particularly from data provided by competitors and associations of raw milk producers, it emerges that in the Epirus region producers are able to substitute one buyer of raw milk for another, either within the same or a different region, and that their bargaining power has increased in recent years.

In almost all markets and submarkets of final products concerned by the concentration, the combined market shares of the parties either fall below 15%, or exceed 15% but do not increase by more than 5%, or exceed 15% with an increment greater than 5%, but in no case surpass 20%. Regarding the submarket of plant-based desserts, the case file indicates that it is a small but growing market. The new entity resulting from the concentration holds the second position in this market, with a share significantly lower than that of the leading company.

The Hellenic Competition Commission finds that the completion of the concentration will not increase the likelihood of horizontal coordinated or non-coordinated effects, either from the new entity itself or between the new entity and remaining competitors, such that firms which previously did not coordinate their behavior would now be significantly more likely to do so—e.g., by increasing prices or otherwise harming effective competition. This conclusion is based both on the above assessment of the likely effects of the concentration on competition conditions in the relevant markets and on the evaluation of the key market factors and conditions.

Furthermore, the Commission considers that an important competitive constraint—ensuring that the concentration will not alter the nature of competition in the affected markets—is exercised by the significant bargaining power of producers and their ability to switch from one buyer to another, either within the same or a different region.

In light of the above, the Hellenic Competition Commission approves, pursuant to Article 8(3) of Law 3959/2011, the concentration concerning the acquisition of sole control by “ELLINIKA GALAKTOKOMEIA S.A.” over “DODONI SINGLE-MEMBER S.A. – AGRICULTURAL DAIRY INDUSTRY OF EPIRUS,” since the concentration, although falling within the scope of Article 6(1) of Law 3959/2011, does not raise serious doubts as to its compatibility with the requirements for effective competition in the relevant markets concerned.

Informal press release for information purposes only, non-binding on the Hellenic Competition Commission.

The full text of the Decision shall be published in the Government Gazette and posted on the HCC website https://www.epant.gr/en/.