Egypt Daily News – Mimco, the company behind the Egyptian soft drink brand “Spiro Spathis,” is poised for significant growth, projecting a sales increase of about 40 times by the end of 2023 due to a surge in demand following a boycott of global brands after the Gaza conflict last October.
According to Youssef Talaat, the company’s partner and commercial manager, sales have already risen from 25 million Egyptian pounds annually to 100 million in 2023, with a forecast of reaching around one billion pounds by year-end.
To meet this increased demand, Mimco plans to establish a new soft drink factory in 10th of Ramadan City, near Cairo, with an investment of approximately 7 million euros.
Talaat indicated that construction is set to start before the year finishes, with production expected to commence by the end of 2025. The new factory aims to significantly enhance production capacity, with an initial output of around 400 million bottles annually, projected to double within three years.
The brand “Spiro Spathis” has been a staple in the Egyptian market since 1920, initially owned by a Greek businessman before being sold to Talat Atwan in 1998. Currently, the company is managed by his sons, including Youssef.
Amid high local and international demand, particularly in Gulf markets, Mimco is contemplating granting franchises to local manufacturers in the Gulf to expand its reach and serve as an export base to nearby regions. Following the first year of operations in the new factory, Talaat aims to further quintuple sales, targeting 5 billion Egyptian pounds.
