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SMERemediumCap II Invests in Bioygia S.A.
Posted: May 13, 2026
The investment fund SMERemediumCap II (SMERC II), following the successful raising of €200 million in December 2025, is proceeding with its first investment.
Recognizing the strong growth dynamics of the organic food market in Greece and internationally, as well as the fragmented nature of the domestic market, SMERC II has completed the majority acquisition of Bioygia S.A., a leading company in the Greek organic products sector. The investment aims to establish a strong and resilient business platform in the organic products market through organic growth and strategic mergers and acquisitions.
Leading Position in the Organic Products Market
Bioygia, with its flagship brand Ola Bio, currently holds a leading position in the organic dry goods market in Greece, while also representing internationally recognized brands such as Yogi Tea, Rapunzel, Koko, Holle, and Ecomil. Its products are distributed through major retail chains and specialized organic food networks, while the company also maintains export activity.
Bioygia reported revenues of €23 million in 2025, with EBITDA of €2.8 million, while maintaining a debt-free balance sheet.
The organic products market in Greece is characterized by a high level of fragmentation, with a large number of small businesses, as well as significant variations in product quality and positioning.
Digital Presence & B2B Growth
The company’s digital presence through the ola-bio.gr platform, which continues to demonstrate strong sales growth, serves as a modern B2B platform for industry professionals, offering continuous updates on new products, recipes, and healthy nutrition insights.
Strategic Objectives
Priorities for Bioygia in the coming years include:
- Expanding organically through the broadening of the company’s product portfolio.
- Further strengthening international partnerships.
- Increasing market share across existing retail and wholesale distribution networks.
4. Developing new distribution channels in Greece and international markets.
5. Expanding the development and distribution of branded local products.
6.Strengthening exports as a key driver of growth.
At the same time, SMERC II aims to further accelerate the growth of Bioygia, primarily through selective acquisitions of companies with strong, branded, and high-quality products, creating a leading business platform in the sector with enhanced access to capital markets, as well as increased investment capacity in production infrastructure, new products, technologies, exports, and modern corporate governance practices.
About Bioygia
Bioygia was founded in 2000 and is considered one of the pioneering companies in the organic products sector in Greece. Since its establishment, the company has evolved into a leading market player, particularly in the dry organic products category.
The company’s current shareholders will retain a minority stake in the new corporate structure and will continue to be represented on the Board of Directors. The existing executive management team will remain actively involved and will lead the company’s next phase of growth in close collaboration with SMERC II.
About SMERemediumCap II
The investment team of SMERemediumCap II focuses on investments in medium-sized Greek production-oriented companies with strong growth potential both in Greece and internationally. As the Greek market is largely dominated by smaller businesses that often face challenges adapting to the evolving economic and business environment, a key investment priority of SMERemediumCap II is the creation of stronger and more resilient business platforms through organic growth, mergers, and acquisitions, strengthening their competitiveness while creating the foundations for outward-looking growth, technological integration, and modern corporate governance.