Greek supermarket chain Sklavenitis and Cypriot rival Papantoniou have been in discussions for several months over a potential deal that could reshape the Cypriot retail market, sources familiar with the matter said.
The nature of the talks remains unclear, with speculation ranging from a full acquisition of Papantoniou by Sklavenitis to a more limited purchase of select stores, however, sources repeatedly declined to comment when contacted by philenews.
Rumours of the deal began circulating strongly in the market in September 2023.
The potential deal comes as Sklavenitis seeks to strengthen its foothold in Cyprus, having entered the market in 2017 through the acquisition of Marinopoulos stores.
Their current network includes eight stores in Nicosia, five in Limassol, two in Paphos and Larnaca, and one in Paralimni. They employ approximately 1,500 people, and according to their website, an estimated 20,000 customers visit their stores daily.
Papantoniou operates nine supermarkets across Cyprus, located in Paphos, Chloraka, Kato Paphos, Polis Chrysochous, Geroskipou, Ypsonas, Katholiki (Limassol Centre), Pissouri, and Engomi.
Lild is the largest player in the Cypriot retail market, operating 22 stores across the island. AlphaMega follows with 19 stores and over 2,200 employees.
Other key players in the industry include the MAS Supermarkets cooperative, comprising smaller retail outlets, the Athienitis supermarket with two stores, and the Metro chain, which operates six stores.
