Weekly M&A Debrief (05/10/2026-11/10/2026)

By George Moschovis and Theodoros Kouzigiannis

RETAIL

Cosmos Sport to Acquire Sport Vision Greece

Cosmos Sport agreed to acquire a 100% stake in Sport Vision Greece from BDS Sport Group. The transaction value was not disclosed. The acquisition is subject to regulatory approval by the Hellenic Competition Commission. Through this transaction, the buyer aims to expand its retail network and strengthen its footprint in the local sportswear market.

The Target

Sport Vision Greece is a local sportswear retailer operating under the Sport Vision, Buzz, and TIKE brands. The company operates a network of 24 physical stores and three e-commerce platforms.

Revenue – 2024: €18.6m

EBITDA – 2024: (€4.7m)

Net Income – 2024: (€5.4m)

Net Debt – 2024: (€1.3m)

The Buyer

Cosmos Sport, a subsidiary of JD Sports, is a Greece-based sportswear and sneaker retailer. The company operates a network of c. 100 physical stores across Greece and Cyprus under banners including Cosmos Sport and Sneaker10.

Revenue – 2025: €212.2m

Adjusted EBITDA – 2025: €26.6m

Net Income – 2025: €15.5m

Net Debt – 2025: (€22.7m)

FOOD

Glaros Acquires 49% Stake in Eurocatering

Glaros, an industrial group affiliated with the Sklavenitis family, acquired a 49% minority stake in Eurocatering, a Greece-based fresh produce company, aiming to support further business expansion. The stake was acquired from existing minority shareholders EOS Capital Partners and Latsco Family Office. The founder of Eurocatering retains the remaining 51% majority stake and continues to lead the company’s management.

The Target

Eurocatering is a Greece-based food enterprise specialising in the processing, packaging, and distribution of fresh fruits and vegetables and expanding its commercial footprint into the broader Balkan market.

Revenue – 2024: €65.7m

EBITDA – 2024: €4.3m

Net Income – 2024: €1.1m

Net Debt – 2024: €8.4m

Leverage – 2024: 1.95x

The Buyer

Glaros is a Greece-based industrial holding company affiliated with the Sklavenitis family. Serving as the family’s industrial and manufacturing arm. The group strategically invests in the food and beverage sector, focusing on food processing, packaging and supply chain integration.

Revenue – 2024: €141.2m

EBITDA – 2024: €37.5m

Net Income – 2024: €28.6m

Net Debt – 2024: €11.6m

Leverage – 2024: 0.31x

BUILDING MATERIALS

Isomat Acquires the Business of Alfa Alfa Energy

Isomat completed the acquisition of the business activity of Alfa Alfa Energy, owner of the ESHA brand, on 6 October 2026, through its subsidiary Isomat Bitumen. The consideration was not disclosed. The acquisition aims to strengthen Isomat’s position in waterproofing and infrastructure materials and expand its production capacity.

The Target

Alfa Alfa Energy, based in Aspropyrgos, Attica, produces bituminous waterproofing membranes, coatings and road materials under the ESHA brand.

Revenue – 2025: €11.4m

EBITDA – 2025: €0.5m

Net Income – 2025: €0.2m

Net Debt – 2025: €7.8m

Leverage - 2025: 3.90x

The Buyer

Isomat is a Greek producer of building chemicals, mortars and paints, with production facilities in Greece, Romania and Serbia and sales in more than 80 countries.

Revenue – 2025: €126.7m

EBITDA – 2025: €18.6m

Net Income – 2025: €9.5m

TECHNOLOGY

Intertech to Acquire 100% of Grafotechniki for €3.28m

Intertech, controlled by CD Media, agreed on 2 October 2026 to acquire 100% of Adelfoi Doxiadi Grafotechniki, a Greek office automation distributor, for an enterprise value of €3.28m, plus a base earn-out of €0.3m linked to the target’s adjusted EBITDA. Completion is subject to conditions, including a partial demerger of the target’s property assets. The acquisition aims to create synergies in Ricoh-branded office automation products and services.

Implied Enterprise Value: €3.28m

EV/EBITDA – 2025: 6.56x

The Target

Adelfoi Doxiadi Grafotechniki, founded in 1961, distributes and supports office automation systems for businesses across Greece, from its Athens headquarters and branches in Thessaloniki and Patras.

Revenue – 2025: €4.0m

EBITDA – 2025: €0.5m

Net Income – 2025: €0.4m

Net Debt – 2025: (€0.8m)

The Buyer

Intertech is a Greek listed technology distributor, majority-owned by CD Media, and the exclusive distributor of Skyworth products in Greece.

RUMOURS AND OTHER DEVELOPMENTS

1) Petros Petropoulos Signs Memorandum to Acquire A. Ismailos for €21m

Petros Petropoulos signed a memorandum of agreement for the potential acquisition of 100% of A. Ismailos, a Mercedes-Benz and Toyota vehicle dealer, for €21m, subject to due diligence findings. Completion also depends on suppliers’ consent and any required Hellenic Competition Commission approval. The target recorded consolidated revenue of €124.4m in 2025.