We need your help now

Support from readers like you keeps The Journal open.

You are visiting us because we have something you value. Independent, unbiased news that tells the truth. Advertising revenue goes some way to support our mission, but this year it has not been enough.

If you've seen value in our reporting, please contribute what you can, so we can continue to produce accurate and meaningful journalism. For everyone who needs it.

Sparring partners

South African Spar is buying Irish Spar

The deal is worth €55 million, with Irish management staying put.

SPAR SOUTH AFRICA has struck a deal to purchase 80% of the company that runs the brand in Ireland.

The deal, which is being classed as a joint venture, will see Spar South Africa assume control of BWG Group, which runs Spar, Eurospar, Spar Express, Mace and XL in Ireland and the UK, has a price tag of €55 million.

The African outfit is responsible for 1,800 branches across South Africa, and has annual sales of around €3.5 billion and a market capitalisation of around €1.5 billion.

The new outfit will invest up to €100 million in the expansion of BWG’s operations over the next five years.

The existing management team will be retained under group chief executive Leo Crawford.

BWG also said that it has bought back some of its debt from exiting banks, while agreeing new five year banking facilities with Bank of Ireland and AIB.

Crawford said that the deal is “a very positive and exciting development for BWG”.

Read: Owner apologises after Spar posts ‘female only’ job ad> 

Read: New product placement rules sees Fair City get a Spar>

Your Voice
Readers Comments
    Submit a report
    Please help us understand how this comment violates our community guidelines.
    Thank you for the feedback
    Your feedback has been sent to our team for review.