Sklavenitis Cyprus completing Papantoniou Supermarkets absorption

This year, 2025, is anticipated to be the one in which Sklavenitis Cyprus will officially strengthen its presence in the market through the completion of its acquisition of Papantoniou Supermarkets– including the legislative and tax-related aspects–and also through introducing Sklaventis practices at nine Papantoniou Supermarkets.

It is recalled that the agreement for the acquisition of Papantoniou Supermarkets by Sklavenitis Cyprus, based on which all of the employees of the former were absorbed in their entirety by the latter, was signed in November 2024, having been preceded that October by the receipt of the required approval of the deal from the Commission for the Protection of Competition (CPC).

A deal, which, as has been repeatedly written about in the past, creates a new balance in the island’s retail map through the creation of a chain with an estimated total annual turnover of close to €400 million.

The plan and next steps

Regarding the planning and next steps for the full and in all respects integration of the nine Papantoniou Supermarkets stores into the Sklavenitis Cyprus network, information obtained by InBusinessNews indicates that the process will begin in early February, in order - as mentioned above - for the model followed at the existing 18 Sklavenitis Cyprus supermarkets to be introduced.

The goal, according to the same information obtained by InBusinessNews, is for the nine Papantoniou stores to be fully integrated and operate under the Sklavenitis brand, within a short time frame.

It is noted that the prices of the products in the nine Papantoniou stores were adjusted immediately after the acquisition to those offered by Sklavenitis supermarkets, while the goal is also, as mentioned above, to complete the legal and tax aspects of the acquisition within 2025.

The goal of reaching the top

The acquisition of Papantoniou Supermarkets, as InBusinessNews has been informed, is a move that demonstrates the strategic pursuit of Sklavenitis Cyprus to expand its activities, even aiming to conquer the leading position in the sector.

(Source: InBusinessNews)