BWG Group (BWG) has announced that it has agreed terms to acquire 4 Aces Wholesale Limited (4 Aces), a well established independent wholesaler supplying the grocery retail, licensed and foodservice trades in Ireland, and a member of the Gala Retail Group, for an undisclosed sum, according to a statement it issued today.
The Spar, Eurospar, Londis, MACE and XL owner outlined that 'the transaction is 'subject to approval from the Competition and Consumer Protection Commission'.
As part of the transaction, Gala Retail has reportedly accepted BWG’s application for membership of the Gala wholesaler network.
Commenting on the transaction, Leo Crawford, Group CEO, BWG Group, said: “4 Aces Wholesale is an excellent business with a strong reputation for delivering a first-class service to its customers and the management team will make an excellent addition to our business.
4 Aces, is a family-led business reported a turnover of €57.5 million for 2016 and employs 85 staff.
It is currently owned by its principals, Liam Linden and Pascal O’Brien, who will be remaining with the company following the acquisition.
“Gala Retail welcomes BWG to the Gala Group. BWG’s expertise, commitment and investment will help to strengthen the Gala brand as we enter our 20th year in business.” Gary Desmond, Gala Retail Group CEO, added.
It will be 'business as usual' for employees, customers and suppliers the group said.
Desmond said: “The Gala stores that are currently serviced by 4 Aces Wholesale will have continuity in service and supply, and this new arrangement with BWG will have no effect on Gala Retail, with Gala retailers continuing to trade proudly under the Gala name throughout Ireland.”
© 2018 - Checkout Magazine by Donna Ahern