Musgrave Group worth at least €447m

MUSGRAVE Group, which paid a dividend of €12.17 million to shareholders last year, is worth at least €447 million, accounts filed with the Companies Registration Office indicate.

Musgrave, the parent company of SuperValu-Centra, Budgens in Britain and Dialsur in Spain, had a turnover of €3.34 billion in the year to December 31, 2003 compared to €2.78bn in 2002, a 20.4% increase.

The accounts show that a dividend of €12.17m is to be paid to members of the extended Musgrave family, who have an estimated 75% holding in the company, and management and staff, who hold the remaining 25% stake.