Joyce’s Supermarkets to acquire Nestor’s in Galway
Galway retail scene gets a shake-up with the news that the Nestor's Supermarket Group which is currently in receivership, is to be acquired by local Joyce's Group
25 August 2017 | 0
Joyce’s Supermarket Group has entered into an agreement to acquire the assets of the Nestor’s Supermarket Group in Galway.
Nestor’s supermarkets, which are currently in receivership, include Nestor’s stores at Fr. Griffin Road, Ballybane, Oranmore and Doughiska.
Once the proposed transaction completes, Nestor’s stores will be re-branded under the Joyce name. The completion of the proposed transaction is subject to certain conditions, including approval by the Competition and Consumer Protection Commission.
“We are always open to exploring opportunities for growth,” said managing director of Joyce’s Supermarket Group, Pat Joyce. “Once the requisite approvals are obtained, we look forward to working with the employees at each of the locations to develop four new Joyce’s supermarkets.”
Established in 1951, Joyce’s is a local Galway company with stores in Headford, Athenry, Tuam, Indreabhan and Knocknacarra. The family-owned and operated company says it is committed to sustaining employment and increasing investment in the county.
According to Joyce’s, the proposed transaction would allow for additional career and promotion opportunities for both existing and new employees. Furthermore, it believes local growers and suppliers will benefit from an enhanced route to market.
In a press statement, Joyce’s thanked advisors Mazars Corporate Finance for handling the transaction.