Cork retail giant Musgraves acquires Dublin food producer
The Dublin company has a range of more than 400 food products and employs more than 80 people operating from a temperature-controlled facility in Clondalkin.
Cork-headquartered retail group Musgraves has purchased a Dublin-based fresh food producer for an undisclosed amount, marking the group's fifth acquisition in eighteen months.
The latest deal for the wholesaling group, which also owns SuperValu and Centra, comes just one week after its acquisition of UK fine food company, Ritter Courivaud.
Its newest purchase, Doyles Veg Prep, is a Clondalkin-based food producer that supplies the Irish catering industry. First established in 1988, the business was founded by Bernard and Kieran Doyle and was co-owned by Kieran Doyle & Jason Ray at the time of the transaction.
The Dublin company has a range of more than 400 food products and employs more than 80 people operating from a temperature-controlled facility in Clondalkin.
According to its most recent financial statement filed to the Company Registration Office, Doyles Veg Prep recorded a profit of just under €1.1m in 2022.
Its acquirer, Musgraves was founded by brothers, Thomas and Stuart Musgraves, and since 2022, has embarked on an ambitious expansion plan, adding five acquisitions to the group's portfolio.
As well as operating through franchise agreements with independently owned retail stores, it also owns and operates a number of retail grocery stores in the State through its subsidiaries, including a number of SuperValu, Centra and Donnybrook Fair branded supermarket stores.
In 2022, the business reported a turnover of €4.5bn, with an operating profit of €111.8m. Headquartered in Airport Road in Cork, the company employs more than 8,200 people across its operations in the Republic, Northern Ireland and Spain.
