mas-SYPAL merger to rejig the market

Maria Karaiskou 10:09 - 07 September 2023

Companies

A new merger is brewing in the retail market, with insiders confirming to InBusinessNews that supermarket chain mas and SYPAL (the association of Limassol grocery stores) are close to reaching an agreement.

The sources said relevant consultations are currently underway and if successful, all supermarkets will fall under the mas brand.

mas, which is already the island’s largest supermarket chain with 54 shops, will also see it climb to second place in terms of suppliers and third as regards its turnover.

mas was founded in 1996 with the aim of protecting small and medium sized businesses from the competition from large international retailers. The same reasoning was behind the foundation of SYPAL back in 1982, which said it aimed to "bring together" small grocery stores, with the sole benefit of improving price negotiation with wholesale companies.

Today, SYPAL runs 45 shops across the island and has a number of private-label products. It also has storage facilities. It is noted that not all SYPAL shops have chosen to participate in the merger and so will continue to operate as they are.

mas-SYPAL merger to rejig the market

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