Dunnes Stores Reportedly Proposing A Takeover Of JC Savage Supermarket
It has been reported that Irish retailer Dunnes Stores is proposing a takeover of JC Savage Supermarket Ltd in Swords.
According to the Irish Times, details of the deal have not been disclosed, but the Competition and Consumer Protection Commission (CCPC) has been notified and has commenced a preliminary investigation.
JC Savage Supermarket Ltd is listed as owning Swords Shopping Centre, where it operates its independent grocery store in Swords Village.
Dunnes, which accounts for over one-fifth of Ireland’s grocery market, has been on a run of potential merger and acquisition activity.
Last year the retailer expressed its interest in a potential bid for Donnybrook Fair, but later withdrew from proceedings and Musgraves swept in to acquire the property.
Dunnes has also seen a number of its tenants go up for sale, with both Stephen’s Green Shopping Centre and the Ashleaf Shopping Centre both going on the market last month. Dunnes Stores would be the anchor retail tenant for both of these properties.
The retailer was recently recognised as Ireland’s leading retailer by Kantar Worldpanel after an impressive growth of 7.2% in the 12 weeks to 16th June.
According to Kantar, the average Dunnes shopper spent almost €20 more this period compared with the same time last year through a combination of higher prices, bigger trolleys and more frequent trips.
© 2019 Checkout – your source for the latest Irish retail news. Article by Aidan O’Sullivan. Click sign-up to subscribe to Checkout.