Wednesday 28 September 2016

Pratt family would stay on after sale of retailer Avoca

Gordon Deegan

Published 24/09/2015 | 02:30

Deal: Avoca CEO Simon Pratt
Deal: Avoca CEO Simon Pratt

Management, including members of the founding Pratt family, will stay on if a planned sale of at Avoca goes ahead, according to managing director Simon Pratt.

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He was commenting as new accounts show Avoca's pre-tax profits increased by 67pc to €2.6m last year. Revenues rose 2pc to €58.84m. Talks on a sale of the retailer are progressing well, Mr Pratt said.

He confirmed in the event of a sale that he, his brother Ivan, sister Vanessa and parents and all senior staff will stay on to manage the business.

Avoca operates 11 cafes and stores, mainly in Dublin and Wicklow, with outlets in Kerry, Galway and Belfast.

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