D.K. Demetriades is making another strategic growth step by proceeding with the acquisition of the business operations of Gircotis & Achilleos Ltd in Cyprus, in a move that is expected to significantly impact the building materials and metal products sector.

According to an announcement by the Service of the Commission for the Protection of Competition (CPC), the relevant notification of concentration has already been submitted, as provided by the Control of Concentrations between Enterprises legislation. The acquisition will take place through Gircotis & Achilleos Traders Ltd, a subsidiary company created by D.K. Demetriades exclusively for the completion of the transaction.

The agreement concerns the acquisition of the business arm of Gircotis & Achilleos operating in the trade and distribution of steel products and other metal products in the Cypriot market. The transaction also includes the relevant assets, as well as the rights and interests associated with this specific activity.

D.K. Demetriades is one of the most established suppliers of building materials in Cyprus, with a presence in both the wholesale and retail markets. Its portfolio includes, among other things, construction iron, timber, ceramics, flooring, roof tiles, sanitary ware, exterior cladding, and photovoltaic systems.

The proposed acquisition further strengthens the company's growth strategy, expanding its presence in a particularly vital market sector, that of steel and metal products. At the same time, it reflects the ongoing trend of concentration in the building materials industry, as businesses seek greater synergies, the strengthening of their distribution networks, and the expansion of their product offerings.

The transaction is now at the evaluation stage by the Commission for the Protection of Competition, which will examine whether the conditions for its completion are met according to the applicable regulatory framework.

Source: ink.com