New Maxol boss has €30m war chest
Maxol's incoming chief executive has €30m to spend this year on expanding the company's footprint as it seeks to carve out a bigger slice of the market.
Brian Donaldson, who will replace former Ibec president Tom Noonan as Maxol boss in May, told the Sunday Independent that the company is hoping to open seven new stores this year.
"The vision going forward is to expand our network, extend our reach, into all of the key population centres. As we speak, we've been working very hard in terms of identifying sites for the future," Donaldson said.
"We know that our competitors are very well funded. We're equally well funded and certainly we're up for the challenge. We've very deep roots in Ireland, we've very strong foundations, and certainly we ain't going anywhere. Our objective is to get bigger, stronger and better.
"At the same time, we're looking at our existing company-owned network of which we have 110 properties, and we've been buying up additional land that adjoins a good number of sites, so in other words we can have the opportunity to develop and extend the offering there."
Sunday Indo Business