Musgrave named Europe’s Top Family Business
Mugrave, the leading retail group which operates the Centra, SuperValu, Mace and Daybreak brands, has won the award for Top Family Business at the 7th annual European Families in Business Awards in Madrid.
14 June 2018 | 0
The Musgrave Group has won a prestigious award at the annual European Families in Business Awards, which took place in Madrid this week. The group, which operates the the Centra, SuperValu, Mace and Daybreak symbol groups, as well as the Musgrave Marketplace wholesale business, won the award for Top Family Business.
At the event, the judges were impressed by Musgrave’s cutting-edge governance structure as well as its commitment to sustainability and customer well-being.
Accepting the award, Chris Musgrave, Musgrave vice chairman, said that the group’s success comes from its mindset of the need to “grow and evolve sustainably.
“By putting a governance framework in place where we focus on sustaining long-term, stable relationships,” said Chris Musgrave, “we have come out stronger from economic downturns and significant world events. In this respect, it is humbling to see our values recognised by receiving this award, particularly in light of the breadth of competing businesses Musgrave was in contention with.”
Musgrave’s 2017 results show a third consecutive year of profit growth, up 9% year-on-year to €80 million before tax. Total sales also performed well at €3.7 billion despite ongoing food deflation.
The European Families in Business Awards recognise family businesses from across Europe that excel in areas such as stewardship, governance, growth, and sustainability and are judged by family business leaders and specialists.
SGPB head Jean-François Mazaud, who presented the evening’s awards said family businesses are the foundation on which the wider European economy is built, playing a major role in the delivery of job creation, social cohesion and innovation. “Congratulations to all winners, whose values contribute so much to their local communities and to our wider society,” he said.
Musgrave was first established by brothers Thomas and Stuart Musgrave in 1876.