Greek extra virgin olive oil is strengthening its presence on international markets, with 2025 marking a milestone year for The Olive Legend Group (TOLG), a newly formed, unified business group in the premium olive oil sector.
TOLG was created through a strategic partnership between investment fund SMERemediumCap, which holds a majority stake and is chaired by Nikolaos Karamouzis, and Inspiring Earth Group, controlled by Konstantinos Antonopoulos. The group represents a consolidated effort to elevate Greek premium olive oil through scale, exports, and brand strength.
In July 2024, TOLG’s shareholders acquired majority stakes in three historic Greek olive oil companies: Latzimas, Lasitia, and Olympian Green. Latzimas was acquired through a combination of a capital increase and the purchase of existing shares from the Kotzampasakis family, which remains a minority shareholder and continues to support the company’s growth. TOLG also acquired a majority stake in Lasitia from previous shareholders, while Inspiring Earth contributed Olympian Green to the new group.
The total investment in the new structure is estimated at nearly €10 million, with Piraeus Bank playing a key role by providing capital and credit lines to support restructuring and financial consolidation.
Today, The Olive Legend Group controls and manages three established Greek olive oil brands and integrates production, commercial, and export operations from Crete to the Peloponnese. Its core objective is to promote premium Greek extra virgin olive oil internationally. The group is also planning collaborations with agricultural cooperatives in Laconia and is exploring expansion into the table olive sector through a potential new acquisition.
In parallel, TOLG is preparing to enter a development programme aimed at modernising facilities and boosting production capacity, with planned investments exceeding €1.2 million.
According to figures presented at a recent briefing, 2025—the first year under the new ownership structure—is expected to see group turnover reach €18 million. Exports are projected to account for 40% of revenue, with the remaining 60% coming from the domestic market. The group has already returned to profitability, with EBITDA estimated at €1 million and a positive net result.
TOLG’s annual production capacity stands at 20,000 tonnes, with storage capacity of 5,000 tonnes in company-owned facilities and direct access to 35,000 olive trees. This vertically integrated model ensures quality consistency, traceability, and operational continuity, while meeting leading international certifications, including BRC, IFS, FDA, and Bio Hellas.
Speaking at the event, SMERemediumCap chairman Nikolaos Karamouzis expressed satisfaction with the creation of a strong new player in the Greek olive oil sector, noting that Greek olive oil has significant growth potential but requires larger, more outward-looking companies to compete globally.
Konstantinos Antonopoulos, chairman and CEO of Inspiring Earth, highlighted the success of the collaboration, stressing that the merger of the three companies has created a group capable of responding to major challenges and opportunities in global markets.
TOLG currently has a presence in 27 countries, with Germany, Austria, Canada, and Japan identified as priority markets for further growth. The group also operates subsidiaries in the United States and Brazil, providing access to major supermarket chains and supporting the promotion of premium Greek olive oil at competitive prices.
The Mercosur trade agreement is seen as a key driver of the group’s international strategy, as reduced or zero tariffs are expected to enhance the competitiveness of European branded olive oil, particularly in Latin America. Executives noted that lower tariffs could boost sales volumes and help counter the rising influence of Tunisia, which is emerging as a major Mediterranean producer with output approaching 500,000 tonnes.