BWG Group has announced that it has agreed terms to acquire Corrib Food Products, a long established independent distribution business servicing the food service sector throughout Ireland.
The transaction, which will further strengthen the BWG position in the growing +€2bn foodservice sector, is subject to approval from the Competition and Consumer Protection Commission.
Corrib Food Products has annual sales of approximately €40m and has a significant presence in the chilled and frozen food sector in Ireland, along with being one of Ireland’s leading suppliers of poultry products.
The business operates from a major distribution centre based near Athenry, Co Galway, and other distribution depots in Dublin, and operates an extensive fleet of over 35 refrigerated vehicles. The company employs approximately 90 staff.
Following three years of double digit growth, bringing annual sales to approximately €100m, BWG Foodservice is now a leader in the foodservice sector.
Growth has been driven by continuous investment across its sophisticated nationwide supply chain that includes seven strategically located depots which are further supported by a regional wholesale network.
The business, which adopts a collaborative approach with customers and suppliers, has also invested strongly in developing an expansive and innovative product range comprising over 8,000 SKUs which continues to evolve with market trends.
Through the acquisition of Corrib Food Products, BWG Foodservice plans to grow its annual sales to €150m.
The acquisition complements BWG’s market leading position in food distribution. It is also consistent with the Group’s future ambition and strategy for growth and follows BWG’s successful acquisition of 4 Aces Wholesale earlier in the year.
Following its acquisition, Corrib Food Products will continue to be led by its current Managing Director Stan Lawless and other family members.
What does this mean?
Commenting on the transaction, Leo Crawford, group CEO, said: “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.
We welcome Stan Lawless and his colleagues to the BWG Group and we are excited about working with him and his team to leverage our considerable foodservice network.”
Commenting on behalf of Corrib Food Products, Stan Lawless, managing director, said, “We’re delighted to be joining BWG Group and to working closely with their experienced team as we continue to further develop and expand our service and offering.
BWG is a very successful and ambitious leader in Ireland’s food sector and becoming part of the Group is a hugely positive development for our staff, suppliers, customers, and our overall business.”
BWG has a turnover of over €1.4bn and through its network of 22 Value Centre and wholesale branches, Foodservice depots, and 240,000 sq. ft. National Distribution Centre, the Group is one of Ireland’s leading wholesalers.
It will seek to grow Corrib Food Products’ business and enhance its service to customers nationwide, by leveraging BWG’s considerable wholesale experience, expertise and buying power, along with its market leading supply chain.