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12° Nicosia,
01 February, 2023
 

Cypriot Fund 'ECM Partners' acquires Starbucks Cyprus and Greece

The sale agreement of the Marinopoulos Coffee Company, the company that owns Starbucks in Greece and Cyprus, is being finalized

Panayiotis Rougalas

ECM Partners, a Cypriot-owned investment fund, is putting the finishing touches on a deal to acquire Starbucks in Greece and Cyprus.

According to reliable sources, the Cypriot fund is very close to closing the deal to acquire the Marinopoulos Group's operations in Greece and Cyprus from the American chain. Marinopoulos Coffee Company is the sole owner of the network in Greece and Cyprus.

In 2017, Sklavenitis purchased the Marinopoulos and Carrefour hypermarkets. The company's assets were transferred to "Sklavenitis," which managed the supermarkets but not to "MarinopoulosCoffeeCompany," which managed Starbucks in Greece and Cyprus. It should be noted that the Marinopoulos Group has been experiencing financial difficulties for the past 5 to 10 years.

ECM Partners recently acquired PAYLIDIS Marble, Granites, Greece's largest marble company, which was founded in Drama in 1980.

Since 2020, ECM Partners has been a major shareholder in the Greek pharmaceutical company FAMAR. At the same time, ECM Partners is active in the hotel sector in Cyprus, with Londa Residences, a luxury residence in Limassol, in its portfolio.

With a portfolio of stores in Cyprus

Starbucks has over 32,000 stores in 80 countries, according to the company's website. According to the company's website, there are 15 locations nationwide.

TAGS
Cyprus  |  business  |  economy

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