“After 51 years of history, the curtain has come down. Gegos supermarkets were founded in 1971 and a few days ago they moved to the chains Sklavenitis (4 stores) and Masoutis (2 stores). Many thanks to all partners, suppliers, members of ELOMAS, as well as to all our employees who have supported us all these years. Thank you all very much. Every end is a new beginning! With this post on his LinkedIn account, Mr. Evangelos Gegos, member of the board of directors of the Gegos supermarket chain, marked the transition of the company to new owners.

It is noted that late in the evening on Friday, January 20, an agreement was signed between the Masutis chain and the Gegos chain, which provides that the stores of the latter in Argiroupoli and Keratea will come under the control of the former. It is recalled that on December 12, 2022, an agreement was signed between the Gegos chain and Sklavenitis, according to which the latter acquired four of the six stores of the former, namely the stores in Porto Rafti, Lutsa and Markopoulos. Mesogaya. Finally, two other chain stores changed owners, ending up, as mentioned above, in Mashutis.

The company was founded in 1971 and the first supermarket operated in Porto Rafti.

Gegos was founded in 1971 by three partners to meet the daily needs of the local population. The first store operated in Porto Rafti and over the years the company was passed on to the children of the founders and successfully expanded to other areas of the Mediterranean.

In 2021, the turnover of Gegos was 19.07 million euros, compared to 20.5 million euros in 2020, and the net result after taxes was 719,548 euros in profit. The company’s total liabilities as at 31 December 2021 were €4.2 million.

It should be noted that this is the fourth acquisition of the Mashutis chain in less than a year. At the beginning of 2022, Mashutis 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, followed by the acquisition of a small local chain, Afi Ioannou Denaxas. and then the acquisition of 10 Family Supermarket AE stores in Northern Greece.