Pernod Ricard has sold BWG Group Ltd to Electra Partners Europe for €220 million, of which €15 million will be a loan.
As part of the deal, Electra will buy Newhill Ltd, which owns 115 Spar shops, mostly in Dublin.
The deal is subject to approval by the competition authorities.
The company said the cash from the sale will go to reimburse the loans for the acquisition of Seagram's wine and spirit business.
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BWG owns the franchises to Spar and Mace retail brands in Ireland through BWG Foods and Mace in Northern Ireland through J&J Haslet.
PA