Following what has been an eventful 24 hours for the Irish supermarket industry, it now appears that wholesaler Musgrave is poised to take control of the Superquinn supermarket chain, which was placed into receivership last night. In a statement this morning, Musgrave CEO Chris Martin said he was "excited by the opportunity" of taking over Superquinn.
The deal is subject to Competition Authority approval, but Musgrave is confident that it can be completed soon. "Purchasing Superquinn, when approved, supports our growth agenda and will sustain our competitiveness. We are looking forward to working with the Superquinn team to develop the future of the business," said Martin.
According to industry newsletter Retail Intelligence, there is a possibility that Superquinn will be operated as a dedicated 'multiple' arm of the Musgrave business. (19 Jul)
© 2011 - ESM: European Supermarket Magazine
