Avramar: Greek-Spanish 'War' Over Revenues and Use of the Name
There is an escalating conflict between Greek and Spanish subsidiaries of Avramar regarding brand exploitation and financial revenue management.
The ongoing negotiations between the Greek and Spanish subsidiaries of Avramar have become increasingly tense, centered on the management of brand exploitation and sales revenues from the Iberian Peninsula. The Greek subsidiary claims that Avramar Spain has withheld payments amounting to 10 million euros, which should have been transferred to them, leading to significant implications for their collaboration. Following the termination of their contracts for fish sales due to these discrepancies, there have been fluctuating payment releases from the Spanish side, raising concerns over financial operations and brand integrity.
Despite Avramar Spain's lack of a strong production base, the situation remains precarious as recent developments indicated attempts to restructure financial affiliations, particularly concerning loans with Greek banks. This strategic move to sell share rights of Avramar Greece to Aqua Bridge introduces another layer of complexity, potentially affecting how revenues are shared and managed going forward. The stakes are high, as both parties are deeply invested in resolving this dispute, which could either lead to a fruitful partnership or further complicate their operations within the competitive market of aquaculture.
As this 'war' over revenues and brand usage continues, the future of Avramar hangs in the balance, with implications not only for the subsidiaries involved but also for broader market dynamics in the industry. The ability to maintain cooperative relations and effectively address these financial issues will be critical for both sides, not just in their respective profitability but also in sustaining the Avramar brand identity on an international level.