Greek cash-and-carry retailer The Mart invested €121.24 million in land, buildings and infrastructure between 2022 and 2025, expanding its property portfolio and distribution capacity while annual revenue exceeded €450 million.
The company, owned by interests associated with the Sklavenitis family and Leonidas Theoklitos, is preparing to open a new logistics centre in Athens in early 2027, although profitability remains significantly below its 2023 levels.
The investment programme has focused on acquiring properties previously leased by the retailer, developing warehousing facilities and modernising existing infrastructure, with additional capital expenditure of approximately €25 million planned for 2026.
Property acquisitions account for €104.5 million
The largest investments were completed in 2022, when The Mart purchased nine cash-and-carry stores and its headquarters, previously operated under lease agreements, for approximately €92 million, including acquisition expenses.
During the same year, the company acquired additional properties worth around €12.5 million, bringing total real estate purchases to €104.5 million. Among the acquisitions was the former DELTA dairy factory in Tavros, Athens, purchased in December 2022. The facility had housed dairy production operations since 1965.
According to the company’s financial statements, additions to land, buildings and technical infrastructure amounted to €105.15 million in 2022, €3.72 million in 2023, €5.22 million in 2024 and €7.14 million in 2025, bringing the four-year total to €121.24 million, including property purchases and improvements to existing facilities.
At the end of 2025, the carrying value of the company’s land reached €42.91 million, while buildings and technical installations were valued at €81.32 million, taking the combined figure to €124.23 million. Construction in progress increased to €8.76 million from €1.79 million a year earlier.
New 21,000 sqm logistics centre scheduled for 2027
The Mart is developing its new distribution centre at the former DELTA industrial site in Tavros, which covers approximately 25,300 sqm and will accommodate buildings with a combined surface area of around 21,000 sqm, including 7,000 sqm dedicated to refrigerated and frozen storage.
Scheduled to begin operations in early 2027, the facility will expand the retailer’s logistics capacity, particularly for fresh and frozen products supplied to restaurants, hotels and other professional customers.
The investment programme also includes the modernisation of existing properties, with upgrades to refrigeration systems completed in 2025 and photovoltaic installations continuing across the network. The company aims to extend solar power systems during 2026 to all properties where installation is technically feasible.
The Mart expanded its retail network in September 2025 with the opening of a store in Kalamata, bringing its total to 14 locations with a combined surface area exceeding 100,000 sqm. The workforce increased to 1,790 employees at the end of the year, compared with 1,703 in 2024.
