Hogan family offers DCC €6.5m for its stake in the Kylemore Group
Published 09/11/2015 | 09:29
The Hogan family, which owns 50pc of catering services company Kylemore Services Group (KSG), has made an unconditional €6.54m offer to Irish distribution group DCC to acquire its 50pc shareholding in the group.
KSG chief executive Brian Hogan said: “As a shareholder in KSG since 1999, DCC has provided excellent support and guidance as the group has grown and diversified into contract restaurant and catering services.
"We believe this offer now provides an opportunity for DCC to sell its shareholding in KSG so it can concentrate on its core interests."
KSG, which has been owned and operated by the Hogan family since 1920, provides contract restaurant and catering services at 110 locations nationwide. It employs 1,000 people and operates an accredited culinary training academy in Dublin.
The Group had sales of €54.2m in the year to the end of March and made an operating profit of just over €1m.
The company also announced that Mr Hogan's brother, David, and daughter, Julie, have been appointed as non-executive directors to the board. They will join Mr Hogan’s son and executive director, Paddy, as Hogan family representatives on the board.