Limassol to see first wholesale outlet of Greek cash & carry

Limassol is to host the first wholesale outlet of the Greek chain Metro Cash & Carry, to be named BEST VALUE when it opens on 28 January.

The ‘BEST VALUE for Professionals’ is targeted at retailers, both in the resale sector (mini-markets, grocery stores) and in the catering and HORECA. Sector (Hotel, Restaurants and Cafes).

The Limassol outlet will be housed in a new and modern building with plenty of parking in the Lemeco factory area.

“The product mix offered by BEST VALUE is designed to meet the needs of even the most demanding, up-to-date professional with more than 20,000 varieties to choose from,” says the Cyprus subsidiary on its website.

According to a report by Capital.gr Metro’s first Cash & Carry wholesale outlet will be opening in Limassol, while future plans include branching out to other areas of the island with 2 to 3 additional stores.

Quoting CEO Aristotelis Panteliades, the company is expected to see growth rates of 6% in the next 5 years.

“At this rate, sales for 2020 are estimated to reach €1.26 bln in a market which is balancing on a tightrope,” said the CEO.

According to Panteliades, the 6% growth rate will be generated from both the supermarket chain and the wholesale network.

In total, Metro has a network of 275 stores across Greece, employs more than 10,700, has 3 distribution centres with total investment during 2016-2020 reaching €210 mln.