Greece’s supermarket sector is set for a major shake-up after Diamantis Masoutis SA announced it has signed a private preliminary agreement to acquire 100% of ANEDIK Kritikos SA, bringing months of speculation to a close.
The deal, which both sides had said was only a matter of time since early December, must now be submitted to Greece’s Competition Commission for regulatory approval, as required by law.
In a joint statement, the two companies said they are satisfied with the progress of the process and stressed their shared commitment to business continuity, the protection of jobs and employee rights, and uninterrupted service to consumers across Greece.
For Masoutis, one of the country’s largest food retailers, the acquisition fits into a broader strategy to strengthen its market presence, support domestic production and its network of partners, and respect the people of Kritikos, its customers and local communities.
A long courtship
Negotiations between the two supermarket chains were in full swing at the start of 2025, with market insiders likening the talks to “a courtship that would end in marriage.” The discussions lasted several months, as Ioannis Masoutis and Angelos Kritikos, who are both seasoned dealmakers in the Greek retail sector, worked to finalize the contractual terms and agree on a purchase price.
In the meantime, Masoutis focused on expanding its footprint through flagship “Grand Masoutis” stores in Glyfada and at Treis Gefyres in Athens, while also building a substantial real estate portfolio of more than 100 properties and development projects, including new apartments in the wider Athens area.
Confidence from the Kritikos side
According to reporting from OT.gr Angelos Kritikos, the shareholder and chief executive of ANEDIK Kritikos, had publicly expressed confidence that the acquisition would go through smoothly. Speaking earlier to Greek business media, he said he did not see any issues that could derail the deal and expected no major obstacles from the Competition Commission.
“The two companies are an almost ideal match, each complementing the other,” he said. “There could not be a better fit.”
He said Masoutis dominates in northern Greece, where Kritikos is still small, while Kritikos has built a robust franchise network that Masoutis lacks. From both a geographic and operational standpoint, the two retailers fit together well.
What the new group will look like
Once the acquisition is completed, the Masoutis Group, led by Ioannis Masoutis, is expected, according to 2025 forecasts and estimates, to rise to third place in Greece’s supermarket industry, up from its long-standing fifth position.
Group sales are projected to approach €2.2 billion, including revenues from SYNKA, another retail chain, and Kritikos. The deal will also significantly strengthen Masoutis’ position in the greater Athens region (Attica), where its current footprint is limited to 56 small stores inherited from the former Promitheftiki chain and one Grand Masoutis in Glyfada.
The combined group will operate a vast retail network of nearly 1,200 stores nationwide, creating one of the largest supermarket footprints in Greece.
Source: ot.gr
