ECONOMY

My Market owner likely to buy out Veropoulos supermarkets

my-market-owner-likely-to-buy-out-veropoulos-supermarkets

The second attempt to sell Veropoulos supermarkets appears close to fruition, as Metro and Veropoulos announced on Tuesday the signing of a preliminary agreement, which has been submitted to the Hellenic Competition Commission for approval.

Under the agreement, Metro, which operates the My Market chain in Attica and southern Greece, will attain a nationwide presence with the 180 Veropoulos supermarkets in 54 Greek towns and cities.

It will then have a total of 280 supermarkets and a potential turnover of over 1 billion euros per year.

Veropoulos will retain its 16 stores in Serbia and the Former Yugoslav Republic of Macedonia.