Sklavenitis Cyprus to buy Papantoniou supermarkets

Sklavenitis Cyprus has agreed with Papantoniou supermarkets on a buyout of the latter’s supermarkets, on Thursday.

With the integration of the new stores, Sklavenitis Cyprus is strengthening its network to a total of 27 stores, confirming its commitment to contribute to the development of the retail sector and demonstrating its confidence in the prospects of the Cypriot economy, and announcement said.

“As a result, even more consumers will have access to a wide variety of excellent quality products at the lowest prices in the market and will enjoy top service. It is noted that all 769 jobs will be maintained,” the company added.

The deal is subject to the approval of the Competition Commission and is expected to be completed within the next few months.