Fairfax Financial Holdings in final stages to acquire Vivartia's Evergood division

Fairfax Financial Holdings, led by Prem Watsa, is approaching a deal to acquire Evergood, the catering and restaurant division of Vivartia currently held by CVC Capital Partners. The binding offer is expected within the next ten days following the completion of financial due diligence. The transaction includes major Greek food service brands such as Goody’s Burger House, Everest, Flocafé Espresso Room, La Pasteria, and Jackaroo, alongside essential catering entities like Hellenic Catering and Olympic Catering.

The delay in finalizing the agreement is attributed to the complex nature of the legal and technical processes involved, rather than any active disputes between the parties. The Evergood division maintains a vast network of hundreds of outlets and a significant turnover, with operations spanning Greece and parts of the Middle East.

This move is strategically significant for the region, particularly Cyprus, as Fairfax is the major shareholder of Eurobank. The acquisition is intended to leverage potential synergies between food service operations and Fairfax’s existing financial and insurance footprint. By integrating these sectors, Fairfax aims to utilize its influence in Cyprus to expand its broader business activities and financial services across the region.