Dunnes crosses Swords for JC Savage supermarket takeover
Dunnes Stores is seeking to acquire JC Savage supermarket, the renowned, family-owned retailer which is the listed owner of Swords Shopping Centre in Dublin. The Irish Times reports that the business has been making a loss in recent years since the German discount supermarkets moved into the area.
16 July 2019 | 0
One of north Dublin’s best-known independent retailers, JC Savage Ltd, has found itself in Dunnes Stores’ sights, with the supermarket retailer launching a takeover bid. The Irish Times reports that no financials are available regarding the bid, but that the Competition Authority has been notified and the deal is set to be scrutinised before approval.
JC Savage Supermarket Ltd is listed as owner of the Swords Shopping Centre, also the location of the company’s sole grocery store. The premises is not to be mistaken with the nearby Swords Pavilion, which houses a sizeable Dunnes Stores shop.
JC Savage was founded by the eponyous businessman in 1977 and is still owned and controlled by the Savage family. Its profitability in recent years had taken a hit.
The Times reports that profits have fallen sharply at JC Savage in recent years, following the arrival of Lidl to the area. A spokesman said he could not comment on the proposed takeover, but confirmed the company currently employed 135 staff and was operating in a “super competitive” market.