SuperValu plans rollout of new Donnybrook Fair outlets after deal
Supervalu and Centra owner Musgrave plans to add new Donnybrook Fair outlets after sealing a deal to buy the Dublin deli chain yesterday.
The Cork-based grocery and wholesale giant is understood to be paying around €15m for the family owned business, as well as assuming €10m of debt. Donnybrook founder Joe Doyle, on left of picture, is a craft butcher who developed the high end food brand into a chain of outlets in wealthy areas in and around the capital. He will remain with the business.
"We plan to retain the Donnybrook Fair brand and invest in it post-acquisition, with Joe Doyle remaining in the business. We are also open to increasing the number of stores. Pending approval from the Competition and Consumer Protection Commission, Musgrave will fully own the company," the firm said in a statement.
Musgrave will take control of Donnybrook Fair's stores in Donnybrook, Stillorgan, Malahide, Greystones and Baggot Street in Dublin 4, as well as its food production facility. "Donnybrook Fair represents a fantastic addition to Musgrave," Chris Martin, Musgrave CEO, pictured on right, said.
"With its focus on creating a destination retail experience as well as a premium food offering, it aligns with our Growing Good Business strategy. We are focused on developing opportunities around every food occasion in a growing market."
Donnybrook Fair employs 250 people. The latest accounts filed with the Companies Office show sales of €27m last year, and a profit of €185,000 - which included a €423,464 boost from the sale and lease back of its Greystones premises.