Foody Market's online delivery operations have been taken over by Alphamega in a significant acquisition deal.
In a significant move to strengthen its presence in the rapidly growing online grocery sector, Alphamega Hypermarkets has agreed to acquire Foody Market, the leading online supermarket operating through Cyprus’ delivery platform Foody. However, the completion of this acquisition is pending regulatory approval by the Commission for the Protection of Competition of the Republic of Cyprus.
Once regulatory approval is granted and the acquisition is finalized, customers can expect Alphamega to offer a combined online and physical grocery shopping service under the Alphamega Express brand. This integration will bring about several changes that aim to enhance the shopping experience, including faster deliveries, more flexible options, and broader coverage in Cyprus.
Foody Market will be integrated into Alphamega’s retail network and will operate under the new brand name, Alphamega Express. The two physical Foody Market stores in Nicosia and Limassol will become part of the Alphamega Express network, continuing to fulfill grocery orders placed through the Foody platform.
Customers will benefit from express delivery through Alphamega Express on the Foody platform, offering faster and more convenient order fulfillment. Additionally, Alphamega’s e-shop (alphamega.com.cy) will provide scheduled delivery options for planned orders. The acquisition will also include the addition of two new order fulfillment centers to improve delivery speed and convenience.
Srdjan Stankovic, CEO of Foody, described the acquisition as a "milestone" for the platform, while George Theodotou, CEO of Alphamega, stated that the expansion makes the company more relevant to today’s consumer. Srdjan Stankovic expressed confidence that the staff of Foody Market would benefit from greater growth opportunities within Alphamega, and George Theodotou views delivery as not just a choice but an opportunity to support customers who may have difficulties with transportation or limited time to visit physical stores.
The acquisition strengthens Alphamega’s presence in the growing online grocery market in Cyprus, reflecting a commitment to innovation and customer-centric service. Upon completion, Foody Market will be fully integrated into Alphamega's retail network and rebranded as Alphamega Express, offering immediate solutions that cater to a fast-paced lifestyle. The expanded partnership between Foody and one of Cyprus's most trusted retail brands, Alphamega, is expected to provide consumers with greater flexibility and a more streamlined, user-friendly shopping experience.
- Upon receiving regulatory approval, the merged Alphamega and Foody Market will offer their combined services under the brand name Alphamega Express in Cyprus.
- With the Foody Market integration, Alphamega Express will provide express delivery options for online orders through the Foody platform, allowing for faster and more convenient order fulfillment.
- The acquisition will result in the addition of two new order fulfillment centers within Alphamega's existing network, improving delivery speed and convenience for customers in Cyprus.
- The acquisition and integration of Foody Market into Alphamega affirm their commitment to innovation and customer-centric service in the growing online grocery sector in the Republic of Cyprus, particularly in cities like Nicosia and Limassol.
