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20/07/2011
Superquinn Bought Over By Musgrave Group
Superquinn supermarket chain has been bought over by the Musgrave Group – owners of SuperValu and Centra.
Last night, as more than 2,800 workers awaited their fate, a receiver was appointed to the Irish family owned company.
However, a deal was agreed between Musgrave Group and the receiver KPMG. Although the cost was not revealed, jobs have been secured.
A statement from the Musgrave Group said: "The transaction will secure the long term viability of the Superquinn business, protect jobs and ensure that Irish consumers can continue to enjoy the Superquinn product offer.”
It statement added: "Superquinn has been challenged by the scale of its debt burden and the difficult trading environment. This purchase secures the jobs of 2,800 people and on completion of the sale process, Musgrave intends to invest in the stores and work with the Superquinn employees to develop the future of the business.
"Musgrave already has a strong commitment to Irish suppliers which helps support 14,000 jobs across 600 supplier companies and contributes €2.9bn to the Irish economy. Musgrave is committed to providing existing Superquinn suppliers with the opportunity to continue to supply Superquinn stores."
(BMcN)
Last night, as more than 2,800 workers awaited their fate, a receiver was appointed to the Irish family owned company.
However, a deal was agreed between Musgrave Group and the receiver KPMG. Although the cost was not revealed, jobs have been secured.
A statement from the Musgrave Group said: "The transaction will secure the long term viability of the Superquinn business, protect jobs and ensure that Irish consumers can continue to enjoy the Superquinn product offer.”
It statement added: "Superquinn has been challenged by the scale of its debt burden and the difficult trading environment. This purchase secures the jobs of 2,800 people and on completion of the sale process, Musgrave intends to invest in the stores and work with the Superquinn employees to develop the future of the business.
"Musgrave already has a strong commitment to Irish suppliers which helps support 14,000 jobs across 600 supplier companies and contributes €2.9bn to the Irish economy. Musgrave is committed to providing existing Superquinn suppliers with the opportunity to continue to supply Superquinn stores."
(BMcN)
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06 January 2011
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Over a hundred Superquinn workers in the Naas store are due to meet trade union representatives at a meeting to discuss the looming store closure this morning. Union's called for the meeting yesterday after an announcement that the County Kildare store will close because its lease is due to expire on February 4th.
21 June 2002
Musgrave Group offers £175m to acquire Budgens
Musgrave Group, Ireland’s largest food distributor, has announced a £175million (275 million euro) offer to buy up the remaining shares in Budgens. The agreed deal will see Musgrave offer of 135 pence (Sterling) per share to the shareholders of Budgens to acquire the outstanding shares in that company that it does not already own.
Musgrave Group offers £175m to acquire Budgens
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21 June 2002
Musgrave announce pre-tax profits of €47m
Food retail and distribution company, Musgrave Group have announced record financial results for the year ended 31 December 2001 with turnover up €258 million or 12.8% at €2.27 billion from €2.01 billion in 2000. The Group's operating profit for the year was €57.33 million, an increase of 38.3% on the €41.45 million achieved in 2000.
Musgrave announce pre-tax profits of €47m
Food retail and distribution company, Musgrave Group have announced record financial results for the year ended 31 December 2001 with turnover up €258 million or 12.8% at €2.27 billion from €2.01 billion in 2000. The Group's operating profit for the year was €57.33 million, an increase of 38.3% on the €41.45 million achieved in 2000.
17 April 2012
Strike Action At Musgrave Warehouse On Wednesday
SIPTU members in the Musgrave Group have served strike notice on the company in Cork to commence on Wednesday (18th April) in a dispute concerning changes to their conditions of employment. The industrial action will involve approximately 135 SIPTU members withdrawing their labour at the company's Cork Chill warehouse.
Strike Action At Musgrave Warehouse On Wednesday
SIPTU members in the Musgrave Group have served strike notice on the company in Cork to commence on Wednesday (18th April) in a dispute concerning changes to their conditions of employment. The industrial action will involve approximately 135 SIPTU members withdrawing their labour at the company's Cork Chill warehouse.
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Northern Ireland WeatherThis Evening and Tonight:It will be dry with a few cloud breaks developing later in the night. Feeling quite mild although breezy again in the north with brisk southwest winds. Minimum temperature 10 °C.
