Spar franchise operator BWG purchases wholesaler 4 Aces
Retail group BWG, which controls the Spar franchise in Ireland, has agreed to buy 4 Aces Wholesale, a family-owned business based in Co Laois.
BWG, whose chief executive is Leo Crawford, is 80pc-owned by stockmarket-listed Spar South Africa.
4 Aces Wholesale generated turnover of €57.5m in 2016 and employs 85 staff. It’s owned by Liam Linden and Pashcal O’Brien and has significant wholesale operations in Portlaoise, Navan and Clonmel.
It supplies more than 1,500 independent retail, food service and licensed trade customers in the midlands. Its customer base includes a network of Gala convenience stores.
The price being paid by BWG was not disclosed and the deal is subject to competition clearance.
However, 4 Aces had net assets of €14.5m at the end of 2016. Its revenue slipped 2.6pc that year, and it posted a group operating profit of €658,000. That operating profit was down from the €908,000 it made in 2015.