Musgrave swoops in to acquire Donnybrook Fair
Musgrave, the foodservice giant that owns the Centra and SuperValu brands, among others, has announced a deal to acquire chic supermarket brand Donnybrook Fair for an undisclosed sum.
21 September 2018 | 0
Musgrave Group has announced an agreement to acquire premium food retailer Donnybrook Fair. The brand owns four stores in Dublin and one in Wicklow, as well as a gourmet food production facility and a cookery school. The deal is for an undisclosed sum, and is subject to approval by the Competition and Consumer Protection Commission.
Earlier this year, word got out that Donnybrook Fair had been in talks with Dunnes Stores for a takeover, before both parties announced last week that those talks had been abandoned. The Irish Times reports that talks between Donnybrook Fair and Dunnes in fact ended several weeks ago, at which point Musgrave, which had been waiting in the wings all along, stepped into the drivers seat to hammer out the details. According to the report, there was a last-minute attempt by Dunnes Stores executives to re-enter the race, but by then the deal between the Doyles and Musgrave was all but finalised.
Regarding the announcement, Musgrave said in a statement that acquiring Donnybrook Fair supports its strategy of building brands that provide “unique food experiences” in and out of the home. Donnybrook Fair stores are “destination stores” that will compliment the growing Dublin food market and Musgrave’s existing brands.
Chris Martin, Musgrave CEO, said the Donnybrook Fair brand is a “fantastic addition” to the group. “With its focus on creating a destination retail experience as well as a premium food offering, it aligns with our Growing Good Business strategy,” Martin said. “Donnybrook Fair increases our penetration of the Dublin food market and our intention is to maintain and grow the brand for the long term.
“We are looking forward to taking it to the next stage of development,” he added.
This is Musgrave’s second recent expansion in the foodservice section, having acquired baked goods supplier La Rousse Foods in December.
Joe Doyle, founder and owner of Donnybrook Fair, said he was attracted by Musgrave’s values and its approach to investing in brands for the long term. “We share Musgrave’s vision of offering access to high-quality, innovative food experiences at home,” he said, “and we look forward to working in partnership to grow the Donnybrook Fair brand.”