It all started in 1932, when brothers Chrysostomos and Costas Mitsides bought a traditional stone mill in the old part of Nicosia. This was the beginning of an ongoing path of excellence and quality, which passed down from generation to generation. In the decades that followed, this small family business flourished into the largest and most experienced flour and pasta manufacturer in Cyprus.
Today Mitsides dominates the Cyprus market, enjoying an impressive 98% brand awareness on the island, and commanding equally impressive shares of around 40% and 50% in the local pasta and flour markets respectively. Moreover, Mitsides products are successfully spreading to overseas markets, earning international acclaim.
Apart from its main line of business which is the production and sale of flour and pasta, the company is also active in grain trading, the sale of pasta sauces, processed tomato products, frozen foods and other foodstuffs, as well as the sale of raw materials for the baking and confectionery industries.
With offices and production units in Nicosia, Dhali and Aradippou and regional offices and distribution centers in all main cities of Cyprus, Mitsides locally employs around 160 people, including qualified personnel in Production, Sales, Marketing, Finance, Food Technology and Quality Control. Mitsides also operates a fully owned Flourmill, Pasta and bakery Factory in Serbia, covering the Serbian and nearby markets.
The Mitsides Group consists of Mitsides Public Company Ltd, which since 2001 owns Larnaca Flourmills Zenon Ltd, after the 100% takeover of Zenon’s holding company Blue Azul Investments Ltd. In addition, since 2010 Mitsides Public Company Ltd owns 100% of the shares of Serbian company Mitsides Point D.o.o.
To maintain the leadership position in the Cyprus Pasta & Flour industry and further expand our operations globally.
The maintaining of Total Quality Management through systematic and continuous training of our personnel, the employment of modern technology in our production, sales and administration facilities and the constant revision and improvement of our internal organizational procedures and methods.
Board of Directors and other Officers
Listed in the Cyprus Stock Exchange since 2007, the company is governed by a Board of Directors, composed of executive and independent, non-executive members. The company adopts the Corporate Governance Code of the Cyprus Stock Exchange (2002).
Constantinos P. Mitsides
Petros Chr. Mitsides
Stelios Chr. Mitsides
Marios. Ph. Demetriades
Nikolas Ph. Epifaniou
Achilleas L. Demetriades
The company is active mainly in Cyprus, where its operations fall under three main divisions:
Mitsides owns 14 grain silos of a total capacity of 20,000 tons and operates two Flourmills, one in the centre of Nicosia and one in Aradippou Industrial Area in Larnaca. Both are combined mills that can handle all kinds of wheat, soft, hard and durum, as well as other cereals. With a total milling capacity of 260 metric tons per day, they produce a wide range of quality flours, such as culinary flours, bread making flours, village and wholewheat flours, semolinas and by-products such as bran and fine bran. Mitsides also owns two fully automated Mixing Plants, unique to Cyprus, which offers substantial flexibility to the company, by producing an extensive line of specialized flours and ready mixes, such as multicereal, multigrain, wholewheat flours, tsoureki mixes and many others, in packages of 1 to 25 kilos, which may cater for every need.
The Mitsides Pasta Factory was built in 1989 in Dhali Industrial zone, using all state of the art Italian technology and produces a wide range of both dry and fresh / frozen pasta products, such as traditional Cyprus ravioli. In addition, the company also distributes under the Mitsides brand name a wide range of related products, that include dry tortellini products, pasta sauces, processed tomato products and bulgur wheat. Following relevant agreements with international companies, Mitsides also exclusively imports and distributes a wide range of rice and pulses of the leading Greek company Agrino.
The assurance of high quality in production has always been a matter of top priority for Mitsides. Strict Quality Control is exercised over all process functions and at all production stages, from the selection of raw materials to the distribution of finished goods. Mitsides is certified to both the ISO 22000:2005 (HACCP) Food Safety Management and the ISO 9001:2015 Quality Systems.
Mitsides runs a fully functional in-house Laboratory within the Nicosia Flourmill facility, operated by a team of qualified personnel which includes a food scientist, a chemist and a flourmill engineer. Quality control is implemented on a daily basis, as every batch of raw materials as well as every batch of end product produced are thoroughly tested, using the highest technology and control devices available, ensuring the high quality standards of all Mitsides products.
In addition, Mitsides has recently set up a fully-equipped Bakery workshop, adjacent to the Flourmill’s Laboratory, where the quality and bread-making capabilities of each batch of flour produced can be tested under real bakery conditions, ensuring the high qualitative level of all Mitsides flour products.
Mitsides also runs a fully equipped Quality Centre, which hosts bakery and confectionery seminars and demonstrations, and also serves as a test centre for current and newly developed products of the company.
Beyond the Cyprus Market
Having secured its predominance in the Cyprus market, Mitsides has made a clear strategic decision to grow by expanding abroad, both through the increase of exports and through expanding its productive operations abroad.
Mitsides flour and pasta are the only Cypriot branded flour and pasta products to be sold abroad. Export destinations for Mitsides products include the United Kingdom, Greece, Serbia, USA, Australia, Japan, Lebanon, Jordan, United Arab Emirates, Kuwait, Oman, Qatar, Saudi Arabia, Bahrain, India, Pakistan and Bangladesh.
The largest share of exports consists of flour exports and mainly flour exported to Pizza Hut restaurants in the Arab Gulf and the Middle East. These exports were the result of Mitsides becoming one of the approved international flour suppliers for Pizza Hut’s parent company Yum!Brands Inc., about 20 years ago, following a 2-year period of thorough examination and approval of its quality, hygiene, and safety standards.
This partnership with Pizza Hut International brought great world acclaim to Mitsides, as the company earned a string of awards as “Pizza Hut Supplier of the Year”, on 5 separate occasions, based on criteria of quality, hygiene, service and sales. This distinction helped Mitsides win additional business from Pizza Hut franchisees in many other markets in South Asia and the Far East. Mitsides has recently obtained similar collaborations with other multinationals, which further expanded its international acclaim clientele.
As a result of rapid and sustained expansion in recent years, the company now derives around 14% of its total sales from exports.
Expansion in Serbia
Apart from exports development, the company recently made a very important strategic move towards the foreign expansion of its operations, through the 100% acquisition of a Serbian company, active in the production of flour, pasta and bakery products, as well as the trading of grains. The Company, which is now managed by Mitsides under the name of Mitsides Point D.o.o., already owns 2 flour mills of a total milling capacity of 230 tons/day, grain silos of a storing capacity of 40,000 tons, a fresh pasta factory, a bakery plant and bakery sales outlets, as well as a recently constructed, modern dry pasta factory, of a total daily capacity of 48,000kg. All plants are situated in Sremska Mitrovica, within the Vojvodina granary, an area close to Belgrade, near the borders to Croatia and Bosnia and not far from the borders to Hungary and Rumania.
See more: http://www.mitsidespoint.rs/en/