Author: Aisling Rafferty

World’s largest Meat Packer JBS buys Moy Park for $1.5 billion

Posted on | by Aisling Rafferty

The world’s largest meat packer JBS, has bought Moy Park in Northern Ireland. The Brazilian meat packing company acquired Moy Park from its owners Marfrig Global Foods for about $1.5 billion.

Marfrig expressed how the sale would enable them to significantly reduce their debt and allow a higher focus on pursuing growth opportunities. The transaction is still subject to approval from relevant authorities, but is expected to be signed by the end of 2015.

Moy Park have their headquarters in Craigavon Co. Armagh and is Northern Ireland’s largest private sector employer. They employ 12,000 staff across Ireland, Britain and mainland Europe. It accounted for 26pc of Marfrig’s revenues and has consistently shown annual growth with revenues of €1.9bn recorded last year.

Source: http://www.businessandleadership.com/business/item/51078-worlds-largest-meat-packer

World’s largest Meat Packer JBS buys Moy Park for $1.5 billion

Posted on | by Aisling Rafferty

The world’s largest meat packer JBS, has bought Moy Park in Northern Ireland. The Brazilian meat packing company acquired Moy Park from its owners Marfrig Global Foods for about $1.5 billion.

Marfrig expressed how the sale would enable them to significantly reduce their debt and allow a higher focus on pursuing growth opportunities. The transaction is still subject to approval from relevant authorities, but is expected to be signed by the end of 2015.

Moy Park have their headquarters in Craigavon Co. Armagh and is Northern Ireland’s largest private sector employer. They employ 12,000 staff across Ireland, Britain and mainland Europe. It accounted for 26pc of Marfrig’s revenues and has consistently shown annual growth with revenues of €1.9bn recorded last year.

Source: http://www.businessandleadership.com/business/item/51078-worlds-largest-meat-packer

Thornton’s chocolatiers to be bought by rival for $177 million

Posted on | by Aisling Rafferty

Italian company Ferrero, who are behind brands like Nutella and Ferrero Rocher have agreed a deal to buy British Chocolate Retailer Thornton’s for £112 million / $177 million. This is the first deal by Ferrero since the death of patriarch Michele Ferrero who generally shied away acquisitions.

On Monday Ferrero agreed to pay 145 pence a share in cash for the 104-year-old Thornton’s.

Thornton’s has been hit in recent years by the rise of newer and innovative upmarket chocolate brands. After a profit warning in December its chief executive of four years, Jonathan Hart, is due stepping down. Thornton’s shares had lost around 40 per cent since March 2014.

 

Analysts said Thornton’s was a good fit for Ferrero, which has strong, premium brands but no retail platform to showcase them. The death of its patriarch had sparked speculation Ferrero might be a takeover target for rivals such as Mars, Nestle and Hershey. Ferrero are also responsible for the Kinder Surprise Egg and Tic-Tac brands.

 

Discounter Dealz eye up new Irish Stores

Posted on | by Aisling Rafferty

Popular discounter Dealz, which own Poundland in the U.K, have expressed their long term plans for the Irish market. Having reported strong growth in its Irish and British operations, they did cite the weak euro as a genuine challenge they will come up against.

While still relatively new to the Irish market, Dealz have established themselves as a leading go to discounter and sell the majority of their products at the €1.49 price point. It opened 10 stores, including one retail park across Ireland in the year to March 29th. This brings its total number of Irish outlets up to 41 stores and its total number of retail parks to four.

While Dealz doesn’t disclose results for Ireland, but said that it now serves some 300,000 customers a week in Ireland. The average basket price per customer is €6.50 (across the UK and Ireland) and would mean annual Irish gross income in the region of €100m.

In all Poundland expects to open at least 60 new stores in the UK and Ireland in the 2015-16 year and continue with a trial in Spain.

Source: http://www.irishtimes.com/business/retail-and-services/dealz-targets-70-shops-for-ireland-1.2254221

BWG’s €23 million acquisition of Londis approved

Posted on | by Aisling Rafferty

Retail group BWG have had their €23 million acquisition of the Londis franchise given the green light by The Competition Authority. BWG already have Spare and Mace is their portfolios, and this later acquisition will mean they will own over 50% of the Irish convenience market.

The Londis franchise, which is identifiable in every town and county across Ireland, has over 200 stores in Ireland and generate approx. €195 million in annual sales. BWG believes that Londis will complement its existing retail operations of 1,175 Spar, Eurospar, Mace and XL symbol stores in Ireland and Britain.

BWG chief executive Leo Crawford said of the announcement “Londis is a great food retail brand with a rich heritage in Ireland spanning over 60 years. BWG will focus on growing and developing Londis in Ireland as part of our portfolio of market leading convenience brands, and we look forward to working with our newest retail partners around the exciting plans we have for Londis retailers and the brand.”

Source: http://www.irishtimes.com/business/retail-and-services/bwg-s-23m-acquisition-of-londis-cleared-by-watchdog-1.2250341

Elvery Sports to create 40 new Retail jobs in €1.5 million expansion

Posted on | by Aisling Rafferty

Irish owned Retail Sports chain Elverys are to create 40 new jobs under a €1.5 million investment in its Retail Stores and online platforms. Elverys currently has over 50 outlets nationwide and employ over 700 staff in Ireland. It has recently avoided examinership after being bought out by management last April will the help off CapNua and AIB.

Elverys Chief Executive is Patrick Rowland. He commented ‘’The 40 new jobs will be created right across our network in our e-commerce, marketing, retail management and retail operations’ departments. We are deploying €1.5 million across the development of our retail network and our online platform. This includes a complete refit of our Blanchardstown, Sligo and Arklow stores, the opening of a new store in St Stephen’s Green, the shop fronts of all stores

Source: http://www.irishtimes.com/business/economy/elverys-smarter-surfaces-to-create-69-new-jobs-in-ireland-1.2249835