European Growth Leaders 2026

Annual ranking data providerLSEG WorkspaceUsed with permission · acknowledgements

An independent research observatory tracking Europe’s listed growth companies.

Francesco Castellaneta, Full Professor of Strategy and Entrepreneurship, SKEMA Business School – Université Côte d’Azur (GREDEG) · Scientific Committee Diego Zunino and Jackie Krafft

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Annual rank20

Greece · Consumer Non-Cyc.

Kri-Kri Milk Industry

Kri-Kri produces ice cream, yogurt and fresh milk from its base in Serres, Greece.

+91%revenue growth
FY2022–FY2025
+974%net-income growth
FY2022–FY2025
+229%stock return
FY2022–FY2025
+66%2026 stock return
current context only

Company profile

From Serres milk to yoghurt pots and ice-cream freezers

Kri-Kri is a Greek dairy producer whose yoghurt and ice cream are made at two plants outside Serres. Its portfolio spans strained and high-protein yoghurt, children's and lactose-free lines, Master Rich ice cream, family packs and Greek frozen yoghurt. Fresh regional milk, automated production, a nationwide sales network, retailer private labels and exports connect a 1954 local ice-cream business to supermarket shelves in Greece and abroad.

Inside the yoghurt cabinet

Strained pots sit beside high-protein, lactose-free and infant ranges

Strained yoghurt comes in 2% and 5% pots and one-kilogram formats. Super Spoon extends the range into high-protein yoghurt and puddings with flavours such as blueberry, caramel and dark chocolate; separate lactose-free and Kri Kri Babies ranges serve other occasions. The infant product is described as made with fresh Greek milk and no added sugar.

Inside the freezer

Sticks, tubs and multipacks turn one category into several formats

Master Rich sticks include Red Velvet & Blueberries, Speculoos and Salted Caramel. The freezer portfolio also includes 450 ml Greek Frozen Yogurt tubs, 1.5 litre Heartmade family packs and multipacks such as Master Mini ION and Greek Frozen Yogurt mini mix. Together they show how one ice-cream plant serves impulse, take-home and multipack formats.

Two plants near Serres

Milk and ice cream follow different automated production paths

Kri-Kri operates separate dairy and ice-cream plants three kilometres from Serres. Its English facilities page describes automated yoghurt lines with X-ray inspection, fresh milk placed into pots within 24 hours and ice-cream capacity of 100 million servings per season. Ice cream is hardened at -40°C and held at -25°C, while quality controls run from supplying farms to the finished product.

From handcart to export shelf

A Serres ice-cream story became a yoghurt export platform

Kri-Kri began in 1954 as George Tsinavos's Serres pastry shop, where ice cream was sold from handcarts cooled with ice and salt. It added automatic ice-cream production in 1971, a new factory in 1987 and Spitiko family yoghurt in 2000. Today branded yoghurt, retailer private labels and Greek Frozen Yogurt exports connect the business with markets including the UK and Italy.

Official profile sources: Authentic products drive sustainable growth — Investor Presentation · KRI-KRI Milk Industry interim financial statements for Q1 2026

Current 2026 update

What is changing at Kri-Kri Milk Industry in 2026?

Kri-Kri is stretching the same Serres production base across three growth routes: yoghurt exports led by the UK and Italy, capacity investment at both factories, and Greek Frozen Yogurt across domestic tourist, export and private-label channels. Management expects profit margins to decline gradually through the rest of the year as Middle East conflict effects enter costs.

Latest official evidence Q1 export, capacity and cost update Published 27 May 2026

The change in one sentence

One local production base is being extended across markets, formats and channels.

The boundaries matter: export share does not reveal brand mix or country concentration; planned capex is not completed capacity; channel targets are not signed contracts; and management expects Q1 margins to decline gradually as Middle East conflict effects become more fully reflected in costs.

Four lenses on 2026

The same four-quadrant format used in the Company profile.

01 · Export model

The UK and Italy turn overseas yoghurt into the core business

Q1 overseas yoghurt sales increased 54.3% to more than EUR 62 million and accounted for nearly 75% of yoghurt activity. The UK grew 74% and Italy 36%; the prior FY2025 presentation reported growth of 63% and 25%, respectively. The figures make foreign yoghurt more than a side channel, but Kri-Kri does not disclose the Q1 branded-versus-private-label split or absolute sales by country.

  • Current signalOver EUR 62m overseas · +54.3% · nearly 75% of yoghurt activity
  • Why it mattersThe company is becoming structurally export-led; two key markets show exceptional growth, while absolute country exposure and retailer-brand mix remain undisclosed.
  • Q1 export and capacity update KRI-KRI via Euronext Athens · 2026-05-27
  • Yoghurt and ice-cream strategy KRI-KRI Milk Industry · 2026-04-24

02 · Production capacity

Both Serres factories are inside one investment programme

Kri-Kri says it is implementing a large-scale project to add production capacity and technologically upgrade both its yoghurt and ice-cream factories. About EUR 3.5 million was spent in Q1, while total 2026 investment is expected at EUR 26-30 million after more than EUR 26 million in 2025. The company does not disclose a completion date, factory-level allocation or quantified capacity addition, so investment spend is not yet operating output.

  • Current signalEUR 3.5m Q1 capex · EUR 26-30m expected for 2026
  • Why it mattersManagement says the plans aim to increase capacity and technologically upgrade both factories; disclosed milestones will show whether investment spend becomes usable output.
  • Q1 export and capacity update KRI-KRI via Euronext Athens · 2026-05-27
  • Factories and 2026 outlook KRI-KRI via Euronext Athens · 2026-04-22

03 · Ice-cream routes

Greek Frozen Yogurt is being pushed through tourist, export and private-label channels

Management's domestic plan combines a wider sales network with promotion of Greek Frozen Yogurt in tourist areas. The FY2025 presentation separately targets Greek Frozen Yogurt export development and additional private-label ice-cream contracts. Q1 domestic ice-cream sales were EUR 4.2 million, up 7.2%, but management says Q1 ice cream is highly seasonal and not representative of annual ice-cream results. No named export market, new contract count, volume or product-level revenue is disclosed for the strategy.

  • Current signalTourist-area promotion · export development · private-label expansion
  • Why it mattersManagement is using Greek Frozen Yogurt in tourist promotion and export development while also pursuing private-label ice-cream work; the disclosures do not quantify the outcome.
  • Q1 export and capacity update KRI-KRI via Euronext Athens · 2026-05-27
  • Factories and 2026 outlook KRI-KRI via Euronext Athens · 2026-04-22
  • Yoghurt and ice-cream strategy KRI-KRI Milk Industry · 2026-04-24

04 · What to watch

Three questions for the next disclosures

Three questions track whether export concentration, investment and channel plans convert into durable capacity and sales.

  • Export breadthDo the UK and Italy sustain growth, and does Kri-Kri disclose a broader country or branded/private-label mix?
  • Capacity and costDoes capex produce disclosed capacity milestones as Middle East-related costs enter the full-year cost base?
  • Frozen-yoghurt channelsDo tourist promotion, export development or private-label work produce named markets, contracts or product-level sales?
Sources:Q1 export and capacity update Yoghurt and ice-cream strategy Factories and 2026 outlook

Annual record

Ranking history

Future editions add rows; they do not rewrite the 2026 record.

EditionMeasurement periodRankRevenue growthNet-income growthStock return
2026FY2022–FY202520+91%+974%+229%