Musgrave makes top private firm list

MUSGRAVE has made the list of the world’s largest private companies, the only Irish firm do so.

The Cork-based firm, which owns the Centra and SuperValu business, is the largest retailer in Ireland ahead of Dunne Stores and Tesco.

Musgrave had turnover of €3.34 billion in 2003, a 20% rise in the previous year with profits coming in at nearly €60 million and has expanded in Britain through the acquisition of Londis.

The list of the world’s largest private companies was compiled by Forbes, the US business magazine.

It shows Britain has the second highest number of biggest private companies outside the US after Germany.

Richard Branson’s Virgin Group and Philip Green’s Arcadia retailing empire are among eight British groups featuring in the latest Forbes 100 Largest Private Companies list.

Retailers John Lewis, Debenhams and Focus Wickes were also among the eight, along with packaging group Linpac, grocery wholesaler Palmer & Harvey McLane and London-based steel distributor Stemcor. John Lewis was the biggest of the British firms in terms of sales in 2003, with Virgin second and Palmer & Harvey third.

Germany has 42 companies in the list, including discount retailer Aldi, media giant Bertelsmann, automotive and domestic appliance maker Robert Bosch and coffee shop group Tchibo.

France and Japan were in joint third place with companies such as supermarket group Auchan and zip maker YKK.

The Netherlands and Switzerland came joint fifth, with Dutch firms such as oil group Vitol and KPMG International, and Swiss giants Deloitte Touche and packaging group Tetra Laval.

Ireland had one group in the list - retail grocers Musgrave.

Arcadia, set up in 1900 and employing 27,900 people, encompasses high street names such as Top Shop, Dorothy Perkins and Burton.

Billionaire Mr Green, who holds a 92% stake in Arcadia with his family, recently paid himself a dividend of £460m after clearing his borrowings and racking up annual operating profits rose by 30% to £296.3m.