Growthfund (the National Fund of Greece) has announced the launch of an international public tender for the sale of a majority stake (at least 51%) in Hellenic Saltworks S.A. The tender will be conducted in two phases:
- Phase A: Interested investors are invited to submit a non-binding Expression of Interest (EOI) in accordance with the terms of the invitation. The process is open to consortia, joint ventures, and groups of legal or natural persons, investment firms, or private equity funds, ensuring maximum participation and competition.
- Phase B: Applicants who meet the pre-selection criteria will proceed to the second phase, which involves the submission of binding offers.The deadline for the submission of Expressions of Interest is January 30, 2026, at 15:00 EET.
Currently, Growthfund holds 80% of the company’s shares. The remaining 20% is held by the municipalities where the saltworks operate, with the largest stakes held by the Municipalities of Messolonghi (10.19%), Pydna-Kolindros (3.18%), and West Lesvos (3.13%).
The entry of a strategic investor aims to bolster the company’s growth prospects and international reach, optimizing its natural resources and operational efficiency for the benefit of both the local and national economies. As a market leader in natural salt production, Hellenic Saltworks S.A. is the primary supplier for the Greek market and a key producer in the Mediterranean.
This strategic move is intended to transform a dynamic public entity into a European “champion” in salt production, characterized by modern infrastructure and enhanced competitiveness.
Holding the exclusive rights to use and exploit eight industrial-scale saltworks across Greece, the company has an annual production capacity exceeding 200,000 tons across a total area of 2,343 hectares. It produces various types of salt—including washed, unwashed, and specialty grades—as well as the premium Afrina (fleur de sel) from the Messolonghi saltworks, a product recognized as a hallmark of quality and traditional production.
What is the Growthfund?
Growthfund (officially known as the Hellenic Corporation of Assets and Participations or HCAP) was established in 2016 during the administration of Prime Minister Alexis Tsipras.
Its creation was a central requirement of the Third Economic Adjustment Programme (the third bailout), which was agreed upon between the Greek government and its international creditors—the European Commission, the European Central Bank (ECB), and the International Monetary Fund (IMF)—in the summer of 2015.
Creditors demanded a more centralized and independent entity to manage Greek state assets, moving them away from direct political control. The goal was to improve the management of State-Owned Enterprises (SOEs) and use revenues to both reduce national debt and fund domestic investments.
Related: How Salt Shaped Human History and Culinary Traditions
