Aramark and Avoca have agreed to sales terms that will pave the way for the global services provider to acquire the luxury Irish retailer.
Donal O’Brien, President of Aramark’s Irish Operations commented, “This is an important, strategic investment for Aramark to add innovative new platforms to serve consumers and distinguish our business."
He added that Avoca can provide Aramark with consumer insights to let it identify future trends, and make sure its clients are “ahead of the curve in meeting their customers’ needs. [...] Working with Simon Pratt and the team, we have a huge opportunity to internationalise a truly Irish culinary dining experience.”
Ranked as one of the world’s '100 Most Inspirational Stores' by Retail Week and with a turnover of €59 million, Avoca is a family-run business that encompasses one of the oldest manufacturing companies in the world and successful stores across Ireland, as well as the Avoca@Home catering service.
Managing Director of Avoca, Simon Pratt, welcomed the deal, saying that Aramark will give the retailer the corporate structures and resources to grow both in Ireland and abroad.
Avoca will be a separate business unit within Aramark’s Irish operations and the Pratt family will continue to be involved in the company. The deal is subject to the approval of Ireland’s Competition and Consumer Protection Commission.
© 2015 - Checkout Magazine by Jenny Whelan.