BWG Group Makes Play for Londis
Published on Jan 23 2015 3:28 PM in General Industry
The company that runs Spar franchises in Ireland is set to bid for ADM Londis for €23 million, it's reported.
BWG, which operates Spar and Mace in Ireland, said they would retain the Londis brand as part of any takeover.
it's reported that Londis's board members have confirmed that they intend to accept the offer.
Despite this, the deal is subject to approval by competition authorities and also requires the support of at least 80 per cent of ADM Londis shareholders.
Earlier this year, Spar South Africa announced it would buy an 80 per cent stake in BWG Group, which operates more than 1,100 stores around the country, adding plans for a €100 million investment in the business over the next five years.
The group has 421 Spar stores in Ireland - with a 35 per cent market share and a turnover of €1.2 billion.
BWG chief executive, Leo Crawford commented on the deal, "We are excited about the opportunity to grow the Londis brand in conjunction with our existing portfolio of market leading convenience brands. Through our partnership with Spar South Africa, BWG has ambitious plans for investment and expansion and we would warmly welcome Londis retailers into our business where they can be part of our future success"