Theo Douzoglou: The unknown story of a Greek entrepreneur from Venezuela

In 2015, the name Theodor Douzoglu appeared on the business map of Greece thanks to a movement that sparked interest during a challenging time for our country. The announcement that the historic "Pentelikon" hotel had changed ownership and was now in the hands of a Greek compatriot from Venezuela generated interest and curiosity about the unknown life of the "Greek from Venezuela," as Theodor Douzoglu was always referred to by all his colleagues.

The business journey of the Duzoglu family in Greece certainly began many years ago when vacations in the country were always accompanied by the search for investment opportunities. From purchasing land and developing real estate in Elliniko, Marousi, Chalandri, Psychiko, the center of Athens, and other locations to well-known strategic investments in the hospitality sector, Theodor Duzoglu has now settled in Greece and established a group of companies. Although for some time some of these investments remained untapped due to business planning, the Greek businessman believes that now is the right moment to revitalize these symbolic assets, relying on a capable team of professionals. In his first interview, Theodor Duzoglu shared with Forbes magazine about his background, life in Venezuela, his family's business activities, the difficult decision to come to Greece, and his investments in our country. He also shared the story of his family, starting with his father, who left Romania for Venezuela before the arrival of the communist regime, and his mother, who came to Greece from a wealthy family in Romania.

Venezuelan entrepreneurs began trading in food products due to a shortage of specialists in this field in Venezuela, which led a Greek family to enter this business. They later expanded and started representing well-known brands in the country, such as Heinz, Sun Maid, Diamond, Kellogg’s, Campbell, and many others.

The family also collaborated with Aristotle Onassis and had a representation for Olympic Aviation for all of South America. In the early 1960s, Venezuela introduced a requirement for importers to establish production lines in the country to continue their operations. As a result, American companies began arriving in Venezuela with their own enterprises. In this context, Theodor Duzoglu's parents, along with their company Grupo Familia Imarla, started trading in food products, initially with a bag in hand and later opening a store. They then managed to obtain distribution rights for well-known brands such as Blue Diamond, Sunsweet, Lactalis, Friesland, Ferrero, Bertolli, Auricchio, el Pozo, as well as Greek brands Altis, Kronos, and Attica Honey. Subsequently, due to new legislation, the Duzoglu family began constructing factories for the production of spices, canned goods, white cheese, and parmesan, as well as toilet paper and napkins. The latter was the largest factory in South America until 2008, when the family decided to sell a significant stake to Kimberly-Clark.