The Sklavenitis Group currently boasts a strong presence in Cyprus, with 18 stores acquired from Marinopoulos in 2017 as part of the latter’s restructuring. Beyond organic growth, a potential acquisition could significantly boost Sklavenitis’s market shares, elevating its position from third (currently behind AlphaMega and Lidl supermarkets) to a market leader.

There are reports that the Sklavenitis executive team is in discussions with two retail chains – not necessarily food-related – to expand the group’s footprint in the local market. These discussions are presently in the negotiation phase, but it is expected that only one of the two retail chains will advance to the final stage of negotiations.

While announcements clarifying the company’s moves in the Cypriot market are expected, the goal of the Sklavenitis Group is to finalize the deal in the coming months, possibly within the next quarter.

It's worth recalling that the deal between Sklavenitis and the Papantoniou Supermarkets did not materialize last summer - early September, reportedly due to financial reasons, according to information that came to light at the time.