Subscribe Login
Retail

BWG Foods Senior Executives Reportedly Due To Share €41.5m Payout

BWG’s chief executive Leo Crawford, finance director John O’Donnell and property director John Clohisey are reportedly due to share a cash payout of in the region of €41.5 million, in the foreseeable future from its majority stakeholder.

It is as part of an estimated €81 million deal by The Spar Group (TSG) to sell down their 20% remaining stake in the group, reports the Irish Times.

South Africa based TSG acquired 80% of the wholesaler and retail group in 2014.

Details of the payments are believed to be contained in the stock market results yesterday for Johannesburg-listed TSG.

According to the Irish Times, BWG's three senior executives are expected to receive the payment in December or January.

© 2019 Checkout – your source for the latest Irish retail news. Click sign-up to subscribe to Checkout.

Stay Connected With Our Weekly Newsletter

Processing your request...

Thanks! please check your email to confirm your subscription.

LIMITED TIME OFFER: 20% Off Our Premium Subscription
Enjoy full access to all website and app content, our weekly email news digest, and to Checkout Magazine 12 times a year (including our Top 100 Brands 2022 edition).
LIMITED TIME OFFER: 20% Off Our Premium Subscription
LIMITED TIME OFFER: 20% Off Our Premium Subscription
Enjoy full access to all website and app content, our weekly email news digest, and to Checkout Magazine 12 times a year (including our Top 100 Brands 2022 edition).
LIMITED TIME OFFER: 20% Off Our Premium Subscription