In another acquisition, the second since the beginning of the year, the Mashutis supermarket chain continued. In particular, the northern chain Helladic acquired Afoi Ioannou Denaxa limited liability company, which is engaged in retail with supermarkets in Santorini, Mykonos and Paleo Faliro, as well as wholesale. In fact, with this move, Masutis is strengthening its presence in Santorini, where it currently has only one store, and is also acquiring a store in Mykonos. Recall that at the beginning of the year it continued the acquisition of the SYNKA chain, entering the Crete market, as well as acquiring a significant number of stores in the tourist areas of the island.
Afoi Ioannou Denaxa EPE has branches in Karterados, Megalochori, Emporio Santorini, Glastro Mykonos and Paleo Faliro. The company also owns many other properties, houses, land in Santorini, Naxos and elsewhere, which, however, are not considered part of the transaction. On the contrary, they say that warehouses in the area of Rentis and Petru Ralli are part of the agreement with Masuti.
According to the latest published balance sheet, Santorini had sales of €20 million in 2020 compared to €26.5 million in 2019, net income of €1.179 million from €1.084 in 2019, and cash and cash equivalents of €2. .09 million euros from 936,143 euros in 2019. 2019.
The Masoutis network ended 2021 with a turnover of 883.47 million euros, only 0.1% more than in 2020. Its net profit increased by 20.03%, reaching 11.35 million euros. The cash balance was €51.6m out of €65.367m and for the fiscal year 2021 it will distribute €4m dividends and pay €3m board contributions.
However, it is worth noting that Masuti, which entered the Attica market in 2018 with the acquisition of Prometevitia, has not yet managed to acquire significant shares in the capital. This is, of course, due to the fact that there are long-established chains, as well as a relatively small chain, which has 70 stores in Attica. For this reason, after all, the company’s goal is to reach 100 stores by the end of 2023.
Source: Kathimerini
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