BWG acquires Corrib Foods in multi-million euro deal
BWG, which owns the Mace, Londis and XL brands, among others, has announced plans to acquire Corrib Food Products, the independent distribution business servicing the food service sector.
14 September 2018 | 0
BWG has strengthened its position in the food service sector by acquiring Corrib Food Products, the chilled and frozen food supplier based in Athenry, Co. Galway. The deal, subject to regulatory approval from the Competition and Consumer Protection Commission, follows the group’s acquisition of wholesaler 4 Aces earlier this year.
Corrib Food Products employs approximately 90 staff and operates a fleet of 35 refrigerated vehicles. It has a significant presence in the chilled and frozen food sector in Ireland, with annual sales of approximately €40m. The business operates from its distribution centre based near Athenry, Co. Galway and other distribution depots in Dublin.
Once the acquisition is complete, family-run Corrib Food Products will continue to be led by its current MD Stan Lawless and other family members.
Leo Crawford, Group CEO, BWG Group called Corrib Food Products a very well regarded business. “It delivers a great service to its customers across Ireland and it will make a very positive contribution to BWG’s continued growth,” Crawford said. “We welcome Stan Lawless and his colleagues to the BWG Group and we are excited about working with him and his team to leverage our considerable foodservice network.”
Following three years of double digit growth, BWG Foodservice’s annual sales have reached approximately €100 million. Through the acquisition of Corrib Food Products, the company says it plans to grow its annual sales to €150m.
Commenting on behalf of Corrib Food Products, Stan Lawless, managing director, said he and all at Corrib Foods are delighted to be joining BWG Group. “We are excited to work closely with their experienced team as we continue to further develop and expand our service and offering,” Lawless said. “BWG is a very successful and ambitious leader in Ireland’s food sector and becoming part of the group is a hugely positive development for our staff, suppliers, customers, and our overall business.”
BWG has a turnover of over €1.4 billion and operates a network of 22 Value Centre and wholesale branches, Foodservice depots, and 240,000 sq. ft. National Distribution Centre.