DECA Investments AIFM, the exclusive investment manager of Diorama Investments SICAR (“Diorama” or the “Fund”), announced the completion of the Fund’s seventh investment: the acquisition of a strategic minority equity position in Lariplast S.A. (“Lariplast” or the “Company”) for a consideration of five million four hundred thousand euros.

Lariplast, which was founded in 1969, produces plastic cups and lids mainly used in the consumption of cold and hot beverages. Yiannis Tserepas, Lariplast’s CEO, is the second generation management having taken over the helm in a young age and having managed to transform the Company from a small local player to one of the largest companies in this sector in Greece. Moreover, he expanded Lariplast’s presence abroad through both exports and the establishment of a production facility outside of Greece. The Company currently operates two production facilities: one in Larissa, Greece and one in Marles, in North-Eastern France. Lariplast exports in 20 countries, with more than 70% of total sales outside of Greece.

Yiannis Tserepas, CEO of Lariplast stated: “Lariplast through this agreement shields the strong foundations the Company has already built in Greece and abroad. As a result, the Company targets further growth and an expansion of its international profile. We remain focused on the expansion of our international presence and committed to our strategy «we produce – we export – we profit – we invest».

Konstantinos Dermanis, Partner of DECA Investments AIFM stated: «We are especially happy with our investment in Lariplast, a company with strong management, high growth rates and significant international profile. Lariplast is one of the very few Greek companies that have built production facilities in a Western European country, having today one of the most modern factories in the sector. Diorama’s investment will be used for the expansion of the Company’s production facilities, allowing Lariplast to serve a larger number of clients in more countries. We believe that together with our help, Lariplast could become an important regional player in Europe”.

The investment in Lariplast is the seventh investment of Diorama. The existing investments in Diorama’s portfolio include the production of adhesive tapes (Atlas Tapes), the processing and packaging of tomato based products (Damavand), music streaming and digital advertising in mobile applications (InternetQ), the production of gable top cartons and spouts (Adam Pack), the design, production and distribution of women’s apparel, purses, shoes and accessories (Axel Accessories) and digital payments (Viva Wallet Holdings).