ATHENS – The shareholders of Greek chocolate industry ION SA and Greek entrepreuner Spyros Theodoropoulos on Tuesday announced a strategic agreement under which the businessman will acquire 45% of shares with the option of acquiring the majority of the company’s equity capital.

In a joint announcement, the two sides said the agreement was based on the common principles and values shared by ION and Theodoropoulos and a common vision for a dynamic growth and expansion in foreign markets. Under the terms of the agreement, the current shareholders of ION SA will keep the management of the company.