The rumours regarding Sklavenitis’ intention to increase its market share in Cyprus seem to be true. It appears that the firm and Papantoniou supermarket are now discussing a possible merger.
It is obvious that the market environment is witnessing substantial changes as this merger potential develops. First off, with Papantoniou owning nine stores and Sklavenitis running 18 supermarkets, the merged company’s store network is growing. Together, the two businesses make around $300 million a year in revenue (roughly $200 million for Sklavenitis and 120 million for Papantoniou). They might overtake the competition with a prospective partnership.
In Cyprus, there are roughly 80 big supermarkets. The battle for market supremacy appears to be based on Nicosia’s impression of the market, which commands the largest share of the market with about 40% of the total, followed by Limassol with 30%.
