The plant producing the iconic condensed Vlachas milk, which was part of the nutrition of Greek children for decades, is to shut down and its production will be moved abroad, Vivartia, the Greek food production conglomerate announced on Wednesday.
The decision to shut down the plant, located in Vathy in northern Greece, after 45 years of operation, will be effective immediately as of next Monday.
A voluntary retirement plan is foreseen for the iconic company’s 76 employees, which according to reports includes the granting of compensation 70 percent above what is required by law.
The move is part of the Vivartia Group’s overall effort to rationalize the operating costs of its subsidiaries, including that of Delta, which produces Vlachas milk and currently has six factories across Greece.
The Vlachas Milk label remains in Delta’s portfolio, but will be produced on behalf of another company in Europe.