1. restaurant market (restaurants – on-site service),
2. coffee and pastry market,
3. cinema management and operation market,
4. event organisation market, and
5. reception/event catering service market.

Articles 5-10 of Law 3959/2011

Operative part of the Decision

The Hellenic Competition Commission, in Chamber, unanimously approves the notified concentration under ref. no. 6/02.01.2024, pursuant to Article 8 (3) of Law 3959/2011, concerning the acquisition of joint control by the companies “FOODCORP INVESTMENTS SINGLE MEMBER S.A.” and “GREGORY’S S.A.” over “1904 S.A.”, within the meaning of Article 5(2-b) of Law 3959/2011, as, although falling within the scope of Article 6(1) of Law 3959/2011, it does not raise serious concerns as to its compatibility with competition rules in the individual markets concerned thereby.

1. “FOODCORP INVESTMENTS SINGLE MEMBER S.A.”
2. “GREGORY’S S.A.”
3. “1904 S.A.”

The concentration notified on 02.01.2024, pursuant to Articles 5-10 of Law 3959/2011, concerned the acquisition of joint control by the companies “FOODCORP INVESTMENTS SINGLE MEMBER S.A.” and “GREGORY’S S.A.” over the special-purpose entity “1904 S.A.”.

FOODCORP holding company belongs to Copelouzos Group.

GREGORY’S is controlled by Vlassis Georgatos and is mainly active in the restaurant and catering sector.

The target company 1904 S.A., mainly active in the provision of restaurant services, will undertake the reconstruction and 20-year operation of the "AIGLI ZAPPEIOU" building complex which will serve as a multi-purpose venue offering catering, leisure, cinema and event organisation services. The proposed transaction leads to a qualitative change of control, as 1904 S.A. is currently under the sole control of GREGORY’S S.A.

The HCC concluded that under any alternative definition of the relevant markets concerned, the assessment of the concentration's potential to restrict competition does not change. And the reason is that no horizontal overlap or vertical connection of the parties' activities exist in any of the above markets that is created or strengthened as a result of the concentration.