Cypriot fund to buy local Starbucks
ECM Partners, a Cypriot-owned investment fund, is putting the finishing touches to 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 Marinopoulos Coffee Company, which managed Starbucks in Greece and Cyprus. It should be noted that the Marinopoulos Group has been experiencing financial difficulties for the past five to 10 years.
ECM Partners recently acquired Pavlidis Marble, 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 a luxury residential development in Limassol, in its portfolio.
