Musgrave Acquisition Of Super-quinn Turns Ireland Retail Into Three Horse Race

摘要

Ireland-based retail group Musgrave has agreed a deal to buy lo-ncal rival Superquinn out of receivership. Superquinn was put up nfor sale by receivers KPMG after struggling to contend with high ndebts primarily attributed to property related loans. The deal will nsee Musgrave take on Superquinn’s 24 outlets and will make it joint nleader with Tesco in terms of grocery market share. This move ncomes despite the Irish retail sector still being in decline (see chart), nyet, along with continued investment from Tesco, highlights that nexisting players still see a long-term opportunity for growth within nthe diffcult Irish market.