Cypriot hypermarket giant Alphamega is all set to acquire online quick commerce service Foody Market.
While Alphamega has completed the paperwork, including signing the agreements – the actual transaction process remains subject to the approval of the Commission for the Protection of Competition (CPC).
Acquiring Foody Market does not give Alphamega access to other dimensions of Foody’s scope of operations.
When the actual transaction is complete, Foody Market shall be fully integrated within the larger retail network of Alphamega. It will migrate to operating within the larger ‘Alphamega Express’ – allowing the larger company to expand its presence in the island nation’s burgeoning online shopping scenario.
Specifically, the Foody Market stores set to join the network are the ones in Limassol and Nicosia. They will be filling out orders from the supermarket via the Foody platform.
This development will allow customers to get their order more seamlessly and get their deliveries quicker – thus creating a much better overall experience.
For Alphamega, this expansion will help them offer more options to their customers, and will help them understand and navigate online store operations better.
People will have the option to either schedule their delivery via the online store on the Alphamega website or order for a quick delivery via the Foody Market online store.
George Theodotou, the CEO of Alphamega has expressed his happiness on the development, mentioning how the expansion is a win-win for everyone involved. He remarked that it will make both businesses stronger by offering more options to today’s consumers and their time-bound lifestyle.
Theodotou further added that the partnership will not end here – and that more plans are on the way. And that it all starts with serving customers who for any reason are unable to physically reach a store.
Meanwhile Srdjan Stankovic, the CEO of Foody called the agreement a major milestone as the company makes a stronger and better partnership with the Cypriot retail giant.
