Musgrave’s takeover of Donnybrook Fair gets green light
Competition body approves €25m acquisition of five stores and food production unit
Donnybrook Fair: co-founder Joe Doyle will stay on to run the business for a while for Musgrave. Photograph: Frank Miller
The Competition and Consumer Protection Commission (CCPC) has cleared the way for Musgrave’s €25 million takeover of Dublin upscale supermarket chain Donnybrook Fair.
The CCPC cleared the acquisition at the end of a preliminary “phase one” inquiry. The commission’s announcement reveals that Cork-based Musgrave is completing the transaction using its Superquinn subsidiary, which it acquired in 2011 when it bought the chain that it has since rebranded to SuperValu.
The Donnybrook Fair transaction includes four stores in Dublin – in Donnybrook, Stillorgan, Malahide and Baggot Street – and one in Greystones, Co Wicklow. It also includes Donnybrook Fair’s food production facility in west Dublin, which was of particular interest to Musgrave.
Donnybrook Fair’s co-founder, Joe Doyle, will stay on to run the business for a period for Musgrave. He and his wife, Mary, could receive up to €15 million for their shares, while Musgrave will also take on the chain’s €10 million debts.