Musgrave is switching up its suppliers, moving from some UK suppliers to ones in Europe, as the company plans ahead of Brexit, according to the Irish Independent.
Speaking to the Sunday Independent, chief executive Chris Martin said that the group wants to avoid higher prices due to tariffs.
Protecting The Consumer
"The reality of it is the UK being outside of Europe will mean that there are tariffs. It will mean that a product that's imported into Ireland from the UK will have a range of tariffs, ranging from zero to whatever," he told the Sunday Independent.
"Our philosophy is very much to make sure that we have the product, that we absolutely protect the consumer from that level of inflation.”
He said that the company is helped by its strong reliance on local and Irish suppliers.
Musgrave, an Irish-owned business, has retail and wholesale operations north of the border, which saw its operating profits triple last year.
In September Musgrave revealed that its Northern Irish businesses saw its turnover increase by 4% to £271 million (€304 million) while its operating profits rose to £1.6 million (€1.8 million)
© 2018 Checkout – your source for the latest Irish retail news. Article by Aidan O’Sullivan. Click subscribe to sign up for the Checkout print edition.
