The Group
General Information
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.
Group Structure
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.
Mission Statement
Our Aim:
To maintain the leadership position in the Cyprus Pasta & Flour industry and further expand our operations globally.
Our Commitment:
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.
Our dedication:
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).
History
1932
1940
1955
1958
1961
1965
1970
1971
1977
1978
1983
1988
1997
• The Mitsides product range is enriched with a line of ready-made pasta sauces and a line of dry tortellini.
• Cooperation with Puratos N.V . of Belgium (world leader in raw materials for the baking, confectionery and other food industries) begins, for the exclusive distribution of their products in Cyprus.
1998
• The production capacity of the flour mill is increased to 130 tons daily.
2000
• As a result of its cooperation with Yum! Brands and Pizza Hut International as an approved flour supplier, Mitsides wins the "Middle East Supplier of the Year" award for the year 2000. This award is annually granted by Yum! Brands, based on criteria of quality, hygiene, service, timely delivery and sales volumes.
2001
• Mitsides takes over "Larnaca Flourmills Zenon Ltd" and becomes the largest flour producer in Cyprus, as the total capacity of the Mitsides Group's two mills now stands at 230 tons daily.
• The Mitsides Quality Centre is launched at the Group's Headquartes in Dhali. The quality Centre is designed to regularly host specialized seminars for bakers and confectioners, with the participation of experts from Cyprus and abroad.
• As a result of its cooperation with Yum! Brands Inc and Pizza Hut International, Mitsides wins for the 2nd time the "Middle East Supplier of the Year" award for the year 2001. Mitsides also receives the highest distinction of all and is pronounced as Yum! Brands "Star International Supplier of the Year", among 630 suppliers worldwide.
2003
• Η Χρ. & Κ. Μιτσίδης Λτδ βραβεύεται για τρίτη χρονιά από την Yum! Brands (πρώην Tricon) σαν "Ο προμηθευτής της Χρονιάς" της Pizza Hut για την περιοχή της Μέσης Ανατολής, Βορείου Αφρικής και Πακιστάν για το έτος 2003.
2004
• Mitsides acquires a 10% share holding in Serbian company Zitopromet Bratstvo A.D., a company dealing with the production of flour, pasta and bakery products, as well as the trading of grains.
• Mitsides pasta enters the UK market through an agreement with UK company Cypressa.
2005
• Serbian company Zitopromet Bratstvo A.D. starts the construction of a new, modern dry Pasta Factory of a total capacity of 2,000 kilos per hour, in Sremska Mitrovica.
• "Chr. & C. Mitsides Ltd" is renamed as "Mitsides Public Company Ltd".
• Mitsides begins the construction of its own Grain Silos on its Headquarters grounds in Dhali Industrial Zone. Four Silos of a total capacity of 10.000 tons are being constructed.
• Mitsides begins the import and distribution of Sitia olive oil and wines from Crete.
• Mitsides Group increases its share holding in Serbian company Zitopromet Bratstvo A.D. from 10% to 45.57%.
• Mitsides receives Yum! Brands "Supplier of the Year" award for the fourth time, as a result of its flour exports to Pizza Hut restaurants in the Middle East and Arab Gulf.
2006
• Mitsides becomes a sponsor of the Hope for Children Foundation, by launching a Facebook application through which it contributes to the construction and furnishing of the “Home for Hope” children’s shelter in Nicosia.
• Mitsides Passata packages of 200g, as well as Mitsides tomato paste of 70g, join the Mitsides Tomato product range.
2007
• Bulgur Wheat and Fine Bulgur Wheat are added to the Mitsides product range,
• In Serbia, the new Pasta Factory of Mitsides Point A.D. starts production, as the first production line for cut dry pasta is set in operation.
• On the occasion of the completion of 75 years of successful operation, Mitsides announces its decision to become Official Sponsor of the Cyprus Olympic Committee, for the Beijing Olympic Games.
2008
• In Serbia, the new Pasta Factory of Mitsides Point A.D. is completed with the operation of a second production line for long pasta, in addition to the existing cut pasta production line. The factory’s total production capacity rises to 2,000 kgs per hour.
• Mitsides completes the construction of 10 more grain silos at its headquarter grounds at Dhali Industrial Zone, thus raising the total grain capacity of its silos to nearly 20,000 tons of grain.
2009
2010
• Mitsides starts the import of Rummo biological pasta from Italy, which also includes some whole wheat pasta items.
2011
• Mitsides launches a new website, which includes a special kids corner, featuring games, arts and crafts for kids.
• Mitsides adds two new products on its range, namely Mitsides Biological Bulgur and Mitsides Gnocchi.
2012
• Mitsides Wheat is added to the range of Mitsides products.
• Mitsides starts the import of Agrino rice and pulses from Greece.
• Mitsides Pasta Fun range is nominated for the In-Business Awards 2012, in the “new products” category.
• Mitsides organizes a Press Conference and Photographic exhibition at Famagusta gate, on the occasion of its 80th anniversary.
2013
• Mitsides introduces a special line of catering pasta packages for professional use.
• Mitsides All-Purpose flour is added to the Mitsides 1kg bags flour range.
• A series of pasta cooking videos, especially made for Mitsides by Chef Kimon Georgiou is launched through Mitsides social media pages.
• A major CSR Easter campaign is featured through Mitsides Facebook page, in cooperation with “Vagoni Agapis” charity organization.
• Mitsides launches two 5kg flour bags on the market, namely Mitsides Farina and Mitsides Village Flour.
2014
• Mitsides becomes a sponsor of the Hope for Children Foundation, by launching a Facebook application through which it contributes to the construction and furnishing of the “Home for Hope” children’s shelter in Nicosia.
• Mitsides Passata packages of 200g, as well as Mitsides tomato paste of 70g, join the Mitsides Tomato product range.
Mitsides completes the 100% takeover of Serbian company Mitsides Point.
2015
• Mitsides launches a completely new look for its main pasta line, introducing square bottom packages for most of its shapes, supported by a specifically designed media campaign, centered on the Mitsides Village girl, which was always featured on the Mitsides logo.
2018
2019
Cyprus Operations
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.
Quality Control
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 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.
World Acclaim
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.
