Musgrave today (21 September) announced that it has agreed to acquire Donnybrook Fair for an undisclosed sum, subject to approval by the Competition and Consumer Protection Commission.
The acquisition includes Donnybrook Fair’s five premium food stores (Donnybrook, Stillorgan, Malahide, Greystones and Baggot Street) situated in Dublin as well as a gourmet food production facility.
Donnybrook Fair increases our penetration of the Dublin food market and our intention is to maintain and grow the brand for the long term,” said Chris Martin, Musgrave CEO,
“We are looking forward to taking it to the next stage of development.”
Established in 1991, Donnybrook Fair is a family business that is owned by Joe and Mary Doyle and employs 250 people.
“I was attracted by Musgrave’s values and its approach to investing in its brands and team for the long-term.” Joe Doyle, owner of Donnybrook Fair, added.
"We share Musgrave’s vision to give people access to high-quality and innovative food experiences at home, on the go, or in-store.”
The Donnybrook Fair brand will be retained and invested in post-acquisition with Joe Doyle remaining in the business.
Earlier this week Dunnes Stores reportedly withdrew from a possible takeover deal of Donnybrook Fair.
It is believed that the talks between the two retailers had been ongoing for some time which suggested they were nearing a conclusion.
Recently published accounts for Donnybrook Fair Limited showed that the firm’s turnover increased by more than €3.7 million during the year to 31 January 2017.
Sales reportedly hit the €27.6 million mark during the 12-month period.
© 2018 Checkout – your source for the latest Irish retail news. Article by Donna Ahern. Click subscribe to sign up for the Checkout print edition.