Galvin’s expected to be taken over by Barry Group

FAILED drinks group, Galvin’s is expected to be taken over by the Mallow-based Barry Group.

Galvin’s was wound up by the High Court at the end of last month after efforts to put together survival proposals collapsed.

Cork-based Galvin’s owns the Carry-Out brand and it is understood that the details are being finalised that will see it being acquired by grocery distributor the Barry Group.

The deal is expected to be completed within days. It is not certain how much or which parts of the business the Barry Group will control.

It is likely to have an interest in Galvin’s 52 Carry-Out franchise outlets across the country.

Cork based drink distributors, Barry & Fitzwilliam had been close to signing a deal recently to acquire the Galvin’s operations. However, company owner, Michael Barry said yesterday that he decided “not to pursue his interest in Carry-Out”.

Mr Barry had previously said he saw great future potential for growth in this sector. Barry & Fitzwilliam had even appointed Deloitte to carry out due diligence on the business.

The Barry Group meanwhile is headquartered in Upper Quartertown, Mallow where it has its main wholesale operation. It supplies products to over 700 stores including 230 affiliated stores in the Republic of Ireland operating under the Costcutter and Quikpick brands.

When contacted a spokeswoman for the Barry Group had no comment to make.

Galvin’s, which reportedly generated sales of around €80m last year went into voluntary examinership in late September after telling the High Court it had suffered financially as a result of a €6m excise fraud.

It is unclear whether or not all of Galvin’s existing workforce will remain under the potential new ownership.