Convenience retail fiirm, Musgrave Group has agreed to buy Irish supermarket chain Superquinn of 24 stores only a day after it entered receivership.The deal, if approved by the competition authority, will create a food retailer to rival Tesco's 27% share of the Irish grocery market.
Superquinn will continue to be managed by administrators from KPMG until the transaction is completed. Musgrave has stated it will be investing in the stores and would bring new value to shoppers.
The Musgrave Group operates around 2,500 sites that are branded Londis, Musgrave Cash & Carry, and Musgrave Foodservices.