Musgrave SuperValu-Centra sells stores for €30m

Musgrave SuperValu-Centra (MSVC) has confirmed that it has completed the transfer of five SuperValu supermarkets, acquired in February this year, to independent retailers.

SuperValu is the country's single largest supermarket brand, with store numbers in the Republic of Ireland at 180.

In 2002 SuperValu recorded retail sales of €1.6bn, an increase of 11% on the previous year, accounting for a 19% marketshare in the Republic of Ireland.

The Meath and Kildare-based stores, originally owned by Joe Nally, have been sold for a

total of just over €30m to five separate retailers.

Among the buyers were three former employees of Nally's SuperValu Group - Steven Molloy,

Marie Molroe and Fergus Reilly who bought the 14,000sqft SuperValu in Ashbourne, Co Meath.

The SuperValu in Leixlip, Co Kildare, was bought by Gerry Murphy, also a Musgrave SuperValu-Centra employee.

A greenfield site in Navan was also acquired as part of the original transaction and MSVC is currently in negotiation with potential developers regarding its sale.

SuperValu managing director Michael Nason has said that facilitating independent local ownership is a cornerstone of the Musgrave retail franchise business.