BWG Group Agrees Terms To Acquire Corrib Food Products
BWG Group has announced that it has agreed terms to acquire Corrib Food Products.
‘The transaction, which will further strengthen BWG’s position in the growing +€2 billion foodservice sector, is subject to approval from the Competition and Consumer Protection Commission,’ the Irish wholesaler said in a statement.
The long established independent distribution business servicing the food service sector throughout Ireland has reportedly annual sales of approximately €40 million.
The group said that with the acquisition of Corrib Food Products, BWG Foodservice plans to grow its annual sales to €150 million.
Commenting on the transaction, Leo Crawford, Group CEO, BWG Group, said: “Corrib Food Products is a very well regarded business that delivers a great service to its customers across Ireland and it will make a very positive contribution to BWG’s continued growth.”
Poultry Supplier Leader
Corrib Food Products is considered to be one of Ireland’s leading suppliers of poultry products, and operates from a major distribution centre based near Athenry, Co Galway, and other distribution depots in Dublin.
The business currently operates a fleet of over 35 refrigerated vehicles and employs approximately 90 staff.
Following its acquisition, Corrib Food Products will continue to be led by its current managing director Stan Lawless and other family members.
“BWG is a very successful and ambitious leader in Ireland’s food sector and becoming part of the Group is a hugely positive development for our staff, suppliers, customers, and our overall business,” Lawless said.
4 Aces Acquisition
The acquisition complements BWG’s market leading position in food distribution.
It is also consistent with the Group’s future ambition and strategy for growth and follows BWG’s successful acquisition of 4 Aces Wholesale earlier in the year.
4 Aces now provides BWG with new trading relationships with the Gala convenience stores that are currently serviced by 4 Aces, in addition to the other 1,040 Spar, Eurospar, Mace, Londis and XL branded stores that BWG supplies from its well invested and fast growing wholesale operations.
© 2018 Checkout – your source for the latest Irish retail news. Article by Donna Ahern. Click subscribe to sign up for the Checkout print edition.