BWG Group has agreed a deal to buy Corrib Food Products, a family-owned business from Galway that supplies fresh and frozen poultry and other chilled goods to the foodservice industry.
Corrib, which BWG says has sales of about €40 million, is being sold by the Lawless family based near Athenry. The deal includes a distribution centre in Athenry and a depot in west Dublin, and Corrib’s fleet of 35 refrigerated lorries.
Members of the Lawless family will continue to run the business, which employs about 90 staff, for BWG following the takeover. The deal is subject to approval from the Competition and Consumer Protection Commission.
BWG, which also operates the Spar convenience store brand in Ireland, will use the Corrib deal to buttress its growing division that supplies foodservice businesses, such as restaurants and hotels.
BWG Foodservice has sales of about €100 million, and the group is aiming to boost its revenues to €150 million in the near term.
BWG has been on the acquisition trail this year, with other deals including the purchase in January of the 4 Aces retail wholesale group that serves the midlands.
A refinancing of BWG’s banking facilities in May freed up about €33 million for fresh acquisitions. The group declined to reveal the value of the Corrib deal.
"Corrib Food Products is a very well regarded business that delivers a great service to its customers across Ireland and it will make a very positive contribution to BWG's continued growth," said Leo Crawford, the chief executive of BWG.