Papoutsanis: Why did he buy Arkadi – What is the history of soap making – Economic Postman

With vegan products, before vegan, the historical soap factory “Arkadi” comes under control Papoutsanis with the listed company expanding its operations by debuting in the laundry care and general purpose cleaning markets.

The CEO of the company, Mr. Menelaos Tasopoulos, speaks of a “historic step in the long history of Papoutsanis”.

Read also: Papoutsanis: Acquisition of “Arkadi” Soap Factory

The entry of Papoutsanis (Karavaki, Aromatics, Natura) into the detergent category was indirectly announced by Menelaos Tasopoulos in March this year, in the context of informing institutional analysts regarding its financial performance last year.

The price of the acquisition of “G. Malikoutis Trade Craft Saponos Anonymi Etairia”, as is the name of the company that produces the products under the “Arkadi” brand, has not yet been known.

Shareholders of the company, which was favored by the Covid19 pandemic, are the three granddaughters of the founder Georgios Malikoutis, Maria Malikoutis, who acts as President and CEO, Christina Malikoutis and Katerina Malikoutis, as well as their uncle, Zacharias Malikoutis, son of the founder.

The three ladies own 50% of the share capital and exercise administrative control over the company whose production facilities are located in Aspropyrgos. Their uncle, Zacharias, has the remaining 50% of the share capital.

Increase turnover

As can be seen from the latest published financial statements of “G. Malikoutis Emporio Biotechnique Saponos Anonymi Etairia”, the turnover of the company during the fiscal year 2020 showed an increase of 39.12% or 693,650.07 euros and reached the amount of 2,466,636.07 euros compared to 1,772,986.00 of the previous fiscal year .

The company’s adjusted EBITDA was at 237,516 euros and profits after taxes were 98,219.41 euros against losses of 133,298.95 euros in the previous year.

Total liabilities on December 31, 2020 were €1.85 million and total net worth €1.74 million.

The amount of the company’s short-term liabilities compared to its short-term claims is also indicated in the auditor’s report without, however, expressing a reservation in relation to this matter.

Readjustment

It should be noted that the company carried out an assessment of the fair value of its industrial building in Aspropyrgos, at the location “Spasmeni Petra”, in order to increase its share capital.

The role of the pandemic

Until the date of the financial report for 2020, the pandemic continued to affect the global economy, the Greek economy and therefore the financial position of the company.

A fact that the company’s management believed would continue for both 2021 and 2022, estimating that it would record a 70% increase in business, as stated in the financial statements.

However, the management emphasized that “to achieve the above objectives, there is a need for us to participate in a financing program aimed at the financial support of the company”.

The hainis, the electrical engineer and the soaps

With roots in Crete that go back to 1700, the Malikoutis family is known not only for its activity in soap making.

Georgios Malikoutis, who founded the company in 1946 in Rethymno, was the grandson of the chaine Nikolaos Malikoutis, who was a historical and heroic figure of the island and is remembered by the historian Psyllakis.

The Christian rebels who appeared on the island after the Turkish conquest, similar to the thieves of the rest of Greece, were called Hainides in Crete. This is what the Turks called them from the Arabic word hain which means the scheming, the traitor, the ungrateful.

Georgios Malikoutis (1903 -1970), a visionary and pioneer, was born in Heraklion and lived in Crete until the age of 18.

Then he embarked in a boat and found himself in Marseilles. He studied electrical engineering at the University of Grenoble, then studied commerce-oenology at the École Supérieure de Commerce in Montpellier, while working for a living.

He returned to Greece in 1928 and after the war founded the soap factory under the name “Arkadi”, to honor the historical Arkadi Monastery in Rethymno, but also the province of the same name, famous for its olive oil production.

But instead of green soap, which was the trend of the time, he preferred to diversify and made white.

The company started by making white soap in large white slabs, tobacco, as well as shavings and flakes, from the olive oils of the region that were unusable due to high acidity.

Arkadi Trimma is packed in cloth bags and makes washing clothes easier in the new washing machines of the era.

The old soap factory is still preserved in the old port of Rethymno.

The two sons

In 1970, the company was taken over by his two children, Nikolaos and Zacharias Malikoutis.

Faithful to the vision and philosophy they inherited, they made Arkadi soaps known in the wider Greek market.

The 70’s were very important for the development of the company. The relocation of production to privately owned premises in Aspropyrgos with a complete renewal of all mechanical equipment is becoming a reality.

The new moms

In the 90s, new packaging for the use of the soap in flakes is launched and at the same time the company prioritizes the promotion of the products to new mothers.

In parallel with increased production capacity, G. Malikoutis EBS S.A. advances in collaborations with other Greek companies and jointly creates private label products, with a composition based on soap, a know-how that the company and its staff possess excellently.

The daughters

In 2005 the helm of the company was taken over by the daughters of Nikolaos Malikoutis who, after 40 years of creation, assumed the role of consultant and together they plan the next steps of modernizing the company.

Innovative soap-based products for the washing machine complement the modern look of the Arkadi product range.

Arkadi laundry liquid with green soap and Arkadi Baby softener with natural olive extract.

In 2019, the first exports of the company’s products will take place in Poland, while in 2020 – thanks to the pandemic – the innovative new liquid green hand soap with an antibacterial agent will be launched in innovative ecological packaging made of recycled nets.


The article is in Greek

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