Superhome Center has been acquired by Vasilitsi

February 2025 — Vasilitsi DIY Ltd. has successfully completed the acquisition of Superhome Center (DIY) Limited, Cyprus’ leading home improvement and DIY retailer, in a landmark US$98 million transaction. The deal involved the full transfer of ownership from Ermes Department Stores plc and Secora BV, representing a significant step in Vasilitsi’s strategic expansion plans.

The leading home improvement and DIY retail chain in Cyprus, Superhome Center operates six stores across all major cities, generating a turnover of US$95 million in the fiscal year 2024. Offering a wide selection of over 60,000 products for home improvement and DIY needs, it serves as a one-stop destination for both professionals and consumers. As part of its growth strategy, the company plans to expand its footprint with two additional stores over the next two years: one in Limassol, its second location in the city, and another in Paralimni, bringing the total to eight stores. Supported by this expansion and continued strong performance at existing locations, Superhome Center is projected to exceed US$114 million in annual turnover in the coming years. 

A private investor acquired Superhome Center through Vasilitsi, a special purpose vehicle (SPV) established specifically for this transaction. The investor is a Greek entrepreneur with prior investments in the building materials sector. Through the acquisition of Superhome Center, the new owner aims to enter the DIY retail market in Cyprus, with a long-term vision of expanding operations into the Greek market.

Ermes Department Stores, which holds a 51% stake in Superhome Center, is the retail arm of Cyprus Trading Corporation plc (CTC), also listed on the Cyprus Stock Exchange. The company operates several stores across the fashion, beauty, food and beverage and department store sectors. Secora, a privately held company with a 49% shareholding, is owned by the proprietor of the largest DIY retail chain in Israel.

Our role in the transaction

Oaklins acted as the exclusive M&A advisor to the sellers, designing and executing a highly competitive sale process. The team provided end-to-end support, including valuation advice, active management of bidder engagement and close coordination of legal, financial and operational due diligence, ensuring successful completion within tight deadlines.