Papantoniou Supermarkets and Sklavenitis Cyprus officially announce deal

07:04 - 21 June 2024

Companies

Sklavenitis Cyprus and Papantoniou Supermarkets announced that they have officially signed a deal to bring the latter's supermarkets island-wide under the Sklavenitis network.

With the deal – which still needs to be approved by the Committee for the Protection of Competition (CPC) – Sklavenitis Cyprus is increasing its network to 27 supermarkets, in a clear vote of confidence in the local retail market and economy.

According to the announcement, all 769 members of staff will keep their jobs. The CPC’s ruling is expected to be issued in the coming months.

Greek supermarket chain Sklavenitis currently runs 18 supermarkets and one food processing plant in Cyprus, including eight in Nicosia, five in Limassol, two in Paphos, two in Larnaca and one in Paralimni, while Papantoniou Supermarkets has nine locations, including five in Paphos, three in Limassol and one in Nicosia.

In a subsequent announcement, Papantoniou Supermarkets said the company “shares the same vision and values” with Sklavenitis. “We are convinced that this cooperation is the ideal continuation for our supermarkets. Our aim was to reach an agreement that satisfied both sides and ensures a dynamic and successful future, as well as the continuation of our supermarkets, clients, associates and employees,” said the announcement.

Papantoniou Supermarkets and Sklavenitis Cyprus officially announce deal

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