Greece's Sklavenitis To Buy Stake In Veropoulos

By Publications Checkout
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Greece's Sklavenitis To Buy Stake In Veropoulos

Greek supermarket chain Sklavenitis is to purchase a large share in rival grocer Veropoulos.

The agreement to sell a 60-per-cent stake is the product of negotiations which have been ongoing for several months, according to reports. The move  will increase the annual turnover of the chain to approximately €2 billion.

The official announcement that the two retailers have agreed terms has yet to be made, but it is anticipated this will occur within the next fortnight.

A massive plus for Sklavenitis will be access to the market outside Athens, as it, unlike Veropoulos, has always been capital-centric in its business.

© 2015 European Supermarket Magazine – your source for the latest retail news. Article written by Peter Donnelly. 

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