Press release content from Business Wire. The AP news staff was not involved in its creation.

Regional Drinks Giant Kassatly Group Holding Announces a Strategic Move to Business-friendly Cyprus

PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.
December 17, 2022 GMT
Regional Drinks Giant Kassatly Group Holding Announces a Strategic Move to Business-friendly Cyprus
Regional Drinks Giant Kassatly Group Holding Announces a Strategic Move to Business-friendly Cyprus

NICOSIA, Cyprus--(BUSINESS WIRE)--Dec 17, 2022--

Lebanese drinks giant Kassatly Group Holding has started work on a new plant in Cyprus under “Boutique Beverage Bottling Int’l Ltd” as part of ambitious plans to move the brand from a regional powerhouse to a global player.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221215005431/en/

The mega plant in Ypsonas, Limassol, should be fully operational by the end of 2023, with the company aiming to make the island home within a year, creating 100+ jobs.

Founder Akram Kassatly said: “The tax incentives in Cyprus are attractive, but it is the geographical advantages to Europe, Africa, the Gulf countries and the Americas, which are most appealing to us and, most importantly, having Mediterranean and European seals on our products, something coveted by consumers worldwide.”

Discussing the logistics of moving an integral part of the business to Cyprus, Mr Kassatly said the input, advice and professionalism of the Invest Cyprus team had made the experience both enjoyable and pain-free.

“Invest Cyprus played a huge role in our decision to make Cyprus our base,” he said. “Each step brought a positive surprise, namely exceptional and fast responses from the moment we submitted our business plan to the planning department’s prompt assistance to make the new plant a reality.”

Welcoming the Kassatly Family to the island, Invest Cyprus Chief Executive Officer George Campanellas said it was always “a pleasure” to accommodate companies in their search for new markets in Europe and beyond.

“Kassatly Group Holding has long been a leading regional player with its innovative beverages, so to be involved in the next phase of this pioneering company’s development is hugely rewarding.

“As the national authority responsible for attracting foreign investment and providing certainty to foreign companies operating in Cyprus, we are delighted to be able to provide the kind of platform that an ambitious company like Kassatly Group needs in order to fulfil its global aspirations.

“With Cyprus situated at the crossroads of Europe, Asia and Africa – something complemented by a highly-skilled, multi-lingual workforce, robust legal framework and business-friendly environment – it makes the island the ideal investment destination for business.”

ends

About Invest Cyprus

Invest Cyprus (Cyprus Investment Promotion Agency) is the investment promotion agency of the Government of Cyprus, dedicated to attracting and facilitating foreign direct investment into the country. In close collaboration with all governmental authorities and public institutions, as well as the private sector and international experts, Invest Cyprus is the country’s lead agent in establishing Cyprus as a world class investment destination. Invest Cyprus’ mandate, is to raise awareness of Cyprus as a location for FDI across the globe, providing certainty around all aspects of operating a business in Cyprus and supporting potential investors in developing their business case for investment into the country. Please visit https://www.investcyprus.org.cy/

About Kassatly Group Holding

Kassatly Group sprang into life in 1974 with a bottled fruit syrup called Jallab. A revolutionary product at the time, the Beirut-based company quickly built on this success with a number of new beverages including liqueurs, award-winning wines, a mix of alcoholic and non-alcoholic party drinks, as well as the successful 2014 Beirut Beer project. http://www.kassatly.net/

View source version on businesswire.com:https://www.businesswire.com/news/home/20221215005431/en/

For interviews and further information, please contact Arilena Constantinou ataconstantinou@investcyprus.org.cy

KEYWORD: EUROPE LEBANON CYPRUS MIDDLE EAST

INDUSTRY KEYWORD: OTHER CONSUMER CONSULTING WINE & SPIRITS BUSINESS PROFESSIONAL SERVICES RESTAURANT/BAR FOOD/BEVERAGE CONSUMER RETAIL

SOURCE: Invest Cyprus

Copyright Business Wire 2022.

PUB: 12/17/2022 08:17 AM/DISC: 12/17/2022 08:17 AM

http://www.businesswire.com/news/home/20221215005431/en