The Cyprus Competition Protection Commission has officially approved the acquisition of Papantoniou supermarkets by Sklavenitis, a deal that was initially announced in June. This move marks a significant expansion for Sklavenitis in Cyprus, strengthening the company's presence in the local market.

As part of the agreement, Sklavenitis has committed to retaining all 769 employees of Papantoniou supermarkets. The deal further boosts the company's growth strategy and solidifies its dominant position in the supermarket sector.

Following the acquisition, Sklavenitis’ network in Cyprus will expand to 27 stores, which includes the former Marinopoulos supermarkets. This acquisition reinforces Sklavenitis' outward focus, further establishing its footprint in the competitive supermarket landscape.

In an announcement issued after its meeting on October 17, 2024, the Commission noted that after reviewing the Written Report from the Service dated October 15, 2024, the acquisition fell under the scope of the Control of Concentrations of Enterprises Law of 2014 (Law No. 83(I)/2014). However, the Commission found no concerns regarding its compatibility with competition in the market. Therefore, it decided not to oppose the transaction and declared it compatible with market operations.