BWG targets sales boost as it buys Corrib
BWG Group plans to almost quadruple sales to €150m at its latest acquisition, Corrib Food Products, after successfully completing the deal last week, chief executive Leo Crawford told the Sunday Independent.
The acquisition by BWG of the long-established independent distribution business, which services the food service sector throughout Ireland, received clearance in the last number of days from the Competition and Consumer Protection Commission.
"We are delighted to have completed the acquisition of Corrib Food Products which complements our market-leading position in food distribution and is consistent with our future ambition and strategy for growth," said BWG group CEO Leo Crawford.
"The business is very well regarded, delivers a great service to its customers across Ireland and will further strengthen our position in the growing €2bn-plus foodservice sector."
The acquisition is its second this year. It acquired 4 Aces, a leading independent wholesaler supplying the grocery retail, licensed and foodservice trades, back in May.
Corrib has annual sales of approximately €40m and has a significant presence in the chilled and frozen food sector in Ireland, along with being one of Ireland's leading suppliers of poultry products. The business, which employs 90 staff, operates from a major distribution centre based near Athenry, Co Galway, and other distribution depots in Dublin, and operates a fleet of 35 refrigerated vehicles.
Corrib will continue to be led by its current managing director Stan Lawless and other family members, said a statement from BWG.
The company said it would now seek to grow Corrib's business and "enhance its service to customers nationwide, by leveraging BWG's considerable wholesale experience, expertise and buying power, along with its market leading supply chain".
BWG's food service division has had three years of double-digit growth, bringing annual sales to approximately €100m.
Sunday Indo Business