Our History

P.M. Tseriotis Group History

From the introduction of Sunlight and Lux packaged soap, as well as Heinz tomato ketchup onto local supermarket shelves in the 1920s, to the appearance of the legendary Volkswagen Beetle on Cypriot streets in the early 1950s, and on to the introduction of the first mobile phones in the 1980s, the P.M. Tseriotis group celebrates countless significant milestones in its long history.

1916: P.M. Tseriotis is founded in Nicosia, Cyprus by Panayiots M. Tseriotis as a Commission Agency for various European manufacturers like Lever Brothers and BASF.

1927: Appointed principal agent of Norwich Union Insurance, a cooperation that lasted until 1994 when Norwich Union withdrew from Cyprus.

1928: Secures H.J.Heinz Agency.

1932: Secures Telefunken Agency.

1938: Secures John West Foods Agency.

1947: P.M. Tseriotis is incorporated as a limited liability company and begins aggressive growth by establishing branches in all major cities and concluding new distribution agreements. The Company moves away from commission business to wholesaling, holding stocks of products and selling through its own sales force.

1953: P.M. Tseriotis Ltd is appointed sole importer and distributor of Volkswagen motor vehicles thus beginning a successful journey into the motor vehicle business.

1953 to 1978: The business continues to grow with the addition of an increasing number of distribution agreements among these Kerrygold Irish Butter in 1972 and Braun electrical appliances in 1973 and the expansion of the retail sales force and car dealerships.

1976: Unicars Ltd is incorporated undertaking the Motor Vehicle business and at the same time is appointed sole importer of Audi AG.

1983: Bauknecht Home Appliances Agency is secured.

1984: A cooperation agreement is signed with Motorola Inc. marking the start of a relationship which flourished further with the advent of cellular telephony. In subsequent years P.M. Tseriotis Ltd concluded similar cooperation agreements with various subsidiaries of Motorola and was a successful tenderer for various major telecommunications projects in Cyprus.

1986: Lever PMT Industries is founded as a joint venture with Unilever for the manufacture of Soaps and Liquid Detergents like Lux and Comfort. The company was later renamed Unilever PMT Ltd.

1990: Unicars Ltd is appointed sole importer for SEAT motor vehicles in Cyprus.

1996: The FMCG business becomes Tseriotis Consumer Goods and concentrates its Distribution activities in a new Central Distribution Unit. Algida ice cream is launched. The formation of Pylones Ltd and the cooperation with Gateway marks the entry of the group into the IT business.

1997: Megaelectric Ltd is formed through a merger with another well established player in the consumer electronics and white/brown goods business.

1998: Entry into the Greek market with the foundation of Pylones Hellas Ltd.
Unicars Ltd is appointed sole importer for Skoda motor vehicles.

2000: In line with its strategic plans of focusing on core activities the Group divests its shareholding in Megaelectric Ltd.

2001: Unicars Ltd enters the car rental sector through the acquisition of a major stake in Uniwheels Car Rentals Ltd. The company operates amongst others the Sixt Rent-A-Car franchise in Cyprus.
Mellon (Cyprus) Ltd is founded to handle specialist Information Technology and Telecommunication projects.

2004: Unicars Ltd becomes the market leader in passenger car sales with 20% market share and is accredited with the Volkswagen ISO9001:2000 certification.

2006: The Chairman of the Group Eleftherios P. Tseriotis passes away at the age of 87. TGA Insurance Agencies Ltd is incorporated as a joint venture with two other agents. Unicars Ltd is appointed Lamborghini authorised Service partner.

2007: Inauguration of Unicars Ltd new central premises in Nicosia designed and constructed with functionality and customer service in mind. An area of 5000 sq. m. houses the Nicosia After Sales Workshop, Body and Paint Shop, the central Spare Parts Warehouse and the company’s Head Offices.

2009: Tseriotis Consumer Goods enters into a sales, marketing and distribution agreement with Chrysodalia, a major Cypriot manufacturer of deli meat and sausage products.

2012: Acquisition of 50% stake in MAN Sales & Services (Cyprus) Ltd gives Unicars a foothold in the truck and bus market.

The new Audi Terminal one of only 100 in the world begins operation in Nicosia.

Unilever Tseriotis Cyprus Ltd is established in a joint venture with Unilever, for the sales and marketing of Unilever Household, Personal Care Products and Ice Cream.

The Tseriotis Consumer Goods Portfolio including newly acquired Barilla > products is incorporated into Tryfon Tseriotis, a joint venture with Tryfon Distributors handling amongst many others important brands like McVities, Wheetabix, Kallo and Tilda.

2013: Diapo Ltd is established to offer 3d Party Logistics services to companies like Unilever Tseriotis, Tryfon Tseriotis and others. It offers storage and distribution services from state of the art facilities for ambient, air-conditioned, chilled and frozen products.

2014: In line with its strategic plans of focusing on core activities the Group divests its shareholding in TGA Insurance Agencies Ltd.