SOURPI, GREECE — Greek flour milling company Loulis Mills SA has acquired a mill in northeastern Bulgaria for €2.25 million through its subsidiary Loulis Mel – Bulgaria EAD.

The mill was built in 2015 and is located in Dobrich, which is approximately 13 kilometers from the Romanian border. The mill has capacity of 100 tonnes per day, with wheat storage capacity of 4,500 tonnes. The facility is located on a 21,000-square-meter plot of land.

“The company, after 10 years, returns to the Balkan market with a production unit designed to serve the markets of Bulgaria and Romania,” Loulis Mills said. “These markets are dynamically growing with increasing demands for quality flour, which the company plans to cover. The company’s goal is to grow on international markets through both export and investment.”

Loulis Mills, listed on the Athens Stock Exchange, currently produces more than 120 varieties of flour and bake mixtures, meeting the demands of a wide customer base, from home bakers to professional and industrial bakeries.

Loulis Mills posted net profit before tax of €4.56 million in 2017, down from €4.59 million in fiscal 2016. Net sales totaled €92.15 million, down 4.5% from €96.54 million in 2016.