30 years of Eurimac, the alliance with Euricom, half of Greek pasta exports and the transition to the third generation The post Stavros Konstantinidis (MAKVEL – Eurimac): from a deal on a napkin to an export powerhouse appeared first on ProtoThema English.The napkin is framed and hanging above the desk of Mr. Stavros Konstantinidis. An inscription or an explanatory note does not accompany it. There are only numbers on it, written roughly, almost spontaneously. And yet, this napkin tells the story of one of the most characteristic business journeys of the Greek food industry. A journey that began on 14 February 1996 in a fish tavern in Thessaloniki, when Mr Konstantinidis and Francesco Sebio, from the Italian group Euricom, shook hands on a joint venture that would eventually leave a very strong imprint on the pasta market, Eurimac. A journey that began on February 14, 1996, in a seafood tavern in Thessaloniki, when Mr. Konstantinidis and Francesco Sebbio from the Italian Euricom Group shook hands on a joint venture that would ultimately leave a powerful mark on the pasta market: Eurimac. “February 14, Valentine’s Day, and notes on a napkin… It may sound funny, but I assure you that since then, there has been deep mutual respect and affection between us,” says Mr. Konstantinidis, Chairman of Eurimac. Thirty years after that day in Thessaloniki, the napkin has been transformed into one of the strongest food export factories in the country. Today, Eurimac exports around 40,000 tons of pasta, accounting for more than 50% of Greece’s total pasta exports. “55% of our production—about 40,000 tons—is exported. And these 40,000 tons represent more than half of Greece’s total pasta exports,” notes Mr. Konstantinidis, highlighting the company’s current footprint with figures. To understand how Eurimac came to control half of Greece’s pasta exports three decades later, one must go back to 1939 in Thessaloniki. That’s when Pantelis and Nikos Konstantinidis, refugees after the Asia Minor Catastrophe, founded MAKVEL as an act of survival and a new beginning. From a small pasta workshop, the company gradually evolved into an industrial operation with its own facilities. As early as 1962, MAKVEL made its first exports to Germany, at a time when Greek food exports were limited and unorganized. “Extroversion was in the company’s DNA from the beginning,” says Mr. Stavros Konstantinidis. “There were no target markets or structured plans. But there was a need to test the product in demanding markets and succeed there through quality.” Mr. Konstantinidis himself grew up inside the factory—“in the dust, among pasta and semolina,” as he puts it. Although he studied economics and returned with an academic background from abroad, continuing the family business was never in doubt. The MAKVEL brand managed to remain on foreign shelves for decades, mainly in markets with a strong Greek presence, building something rare for Greek companies: continuity. This culture—outward-looking without noise, growth without haste—eventually met the strategic thinking of the Italian Euricom Group in the mid-1990s. The 1996 agreement was structured from the outset as a long-term strategic partnership with clearly defined roles and strict balance. The 50-50 model was a fundamental condition for its longevity. “We are exactly 50-50. It’s a difficult balance, but when a company performs well, it works—and we made it work,” says Mr. Konstantinidis. In practice, the partnership functioned in a complementary way. The Greek side brought product knowledge, brand strength, and production experience. The Italian side contributed technical expertise, access to raw materials, and an international operating environment with high standards—not by relocating production, but by building a competitive base from scratch. Despite its international dimension, Eurimac retained the character of a Greek family business, with management and daily operations remaining in Greek hands. It is no coincidence that the plant in Kilkis is today the only pasta production site of the Euricom Group worldwide. The Italian group, which operates more than 20 production units and generates over €1 billion in turnover, has divested from other pasta facilities in Italy, maintaining Kilkis as its sole production pillar in the sector. “We may have partnered with a large group, but we remain a family business,” emphasizes Mr. Konstantinidis. “That’s part of our identity.” Vertical integration proved to be one of Eurimac’s most decisive strategic moves. In 2007, the company invested in a semolina mill, a key pillar for controlling both cost and quality. This decision allowed Eurimac to control the entire production chain—from raw material to final product. “The mill ensures both quality and cost efficiency. It’s strategically critical to our operations,” says Mr. Konstantinidis. The company continues to follow the same raw material policy today, using exclusively Greek durum wheat, without imports from third countries. It is among the largest buyers of durum wheat in Greece, purchasing more than 100,000 tons annually. Today, the Kilkis plant operates as a fully integrated production ecosystem, with seven production lines, a mill aligned with the factory’s capacity, and infrastructure capable of supporting large volumes without compromising quality. This foundation—spatial, industrial, and agricultural—enabled Eurimac to move to the next, riskier phase: investing aggressively during the crisis, when most companies were freezing their plans. “From 2008 to today, we added four to five more production lines,” says Mr. Konstantinidis. Initially, the factory operated with just two lines. During the crisis years, multiple investment cycles followed—2008, 2011, 2016, 2021, and most recently, the seventh production line. In the past six years alone, investments reached €23 million. The result was a radical change in scale. When the market began to recover, Eurimac emerged stronger, with production capacity capable of supporting large volumes and demanding markets. Today, the factory’s theoretical capacity reaches 100,000 tons, with practical capacity close to 90,000 tons. Production stood at 76,500 tons in 2024 and 72,500 tons in 2025, with expectations for 2026 to rise again toward 80,000 tons. This production capacity became the foundation for Eurimac’s evolution into Greece’s leading pasta exporter. Today, the company exports most of its production to more than 60 markets worldwide. The bulk of exports goes to Europe, with a strong presence in demanding markets such as Germany, the United Kingdom, France, Scandinavia, and Italy. In recent years, Eurimac has also strengthened its footprint in the Far East, including Japan, South Korea, and China. Its products also reach North America and the Middle East. Mr. Konstantinidis clarifies that export growth did not rely solely on Euricom’s network. “To a large extent, we developed exports on our own,” he says, noting that Eurimac invested in direct commercial relationships and tailored products and packaging to each market. Private label plays a key role, accounting for a large share of volumes, particularly in major retail chains and discount stores. At the same time, the company has a strong presence in food service, where requirements are particularly strict. “In catering, the name doesn’t matter—what matters is whether the product holds up during cooking and under demanding conditions,” he notes. This mix is complemented by selective exports of branded products, with MAKVEL maintaining a presence in certain markets. A special case is Cuba, where Eurimac operates through Euricom Cuba, the group’s commercial subsidiary, with organized distribution in supermarkets—a market that demands consistency and long-term commitment. Recent strategic choices are clearly reflected in the numbers. In 2024, Eurimac achieved record performance in both volume and profitability, with production reaching 76,500 tons and turnover at €72.6 million. In 2025, despite a slight decline in volumes to 72,500 tons due to falling prices and raw material costs, financial results remained strong. “It was a very good year. In absolute financial results in pasta, we are in first place in Greece,” says Mr. Konstantinidis, adding that the company effectively controls around 30% of the domestic market when private label is included. However, he notes that for a company of such scale, the biggest risk is complacency. Eurimac’s response has been consistent investment in value-added products. “Innovation cannot be detached from production and cost, especially in exports,” he says. A key recent example is the development of low glycemic index pasta—not as a niche product, but as a response to broader dietary needs. “It’s not only for people with blood sugar issues. It creates a sense of fullness and supports overall nutrition,” he explains. The product was developed internally by a dedicated R&D team working closely with management. “Ideas always start with people. We worked on this product together, tested and retested it before launching it,” he adds. With its production base fully developed, Eurimac’s next goal is optimization. “Our next major step is the digitalization of all company processes to optimize cost and operations,” says Mr. Konstantinidis. The company has also reached its spatial limits. The Kilkis industrial complex covers 70,000–75,000 square meters, with 25,000–30,000 square meters of built facilities. “There’s no more room for major expansion,” he notes. Any further increase in capacity will come from replacing existing lines with more efficient ones. At the same time, Eurimac is cautiously entering a new commercial field: ready meals. It is already active in products such as tortellini and gnocchi and is preparing to enter categories like mac & cheese—initially through imported products. This move aligns with developments in the Euricom Group, which recently acquired a ready-meals factory in France, formerly owned by Mars. “Gradually, we are strengthening our commercial presence alongside our industrial activity,” says Mr. Konstantinidis. Meanwhile, the most critical transition for any family business—succession—has already taken place. The third generation is now at the helm, with his son, Pantelis Konstantinidis, serving as Vice Chairman. Thus, thirty years after the agreement written on a napkin, Eurimac is entering its next chapter with the same philosophy that has defined it from the start: discipline, consistency, and decisions that stand the test of time. Follow en.protothema.gr on Google News and be the first to know all the news See all the latest News from Greece and the World, the moment they happen, at en.protothema.gr
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