Krinos Foods to set up new national headquarters in New York

Krinos Foods, an importer, distributor and manufacturer of Greek and Mediterranean speciality foods, plans to invest $20.8m to establish a 100,000ft² national headquarters in the Bronx, New York.

As part of the project, Krinos Foods will acquire the site, which is located at Bathgate Industrial Business Zone, for $3.5m and invest about $17.3m to establish new headquarters, including a manufacturing facility.

Following construction, the facility will feature modern equipment and an efficient layout, allowing the company to boost capacity and improve operational efficiency.

The company noted that it selected the new location due to easy transportation access and its proximity to the Hunts Point produce market.

With this move, the company will be shifting from its old headquarters in Long Island City, New York.

Krinos Foods president Eric Moscahlaidis said that due to internal expansion and acquisitions, the company has outgrown its facility in Long Island City, where it has been based for nearly 30 years.

"We are thrilled to make this investment in New York City that will allow us to retain our trained and skilled employees, to continue to grow, and to efficiently serve our local, regional and national customers," Moscahlaidis added.

New York City Economic Development Corporation president Seth W Pinsky said the investment will generate jobs and stimulate economic activity.

The facility is expected to open in early 2014, creating five new jobs, in addition to the 85 existing employees.

The company plans to seek incentives from the city as part of its relocation.

Krinos Foods offers 2,500 products such as cheese, olives, olive oil, pasta, beans, peppers, yogurt, condiments and confectionery, which are sold at retail stores and served in restaurants across North America.