The Barry Group has today announced its acquisition of the Carry Out off-licence business, which has 52 stores nationwide.
The takeover is expected to add €42m to the firm’s annualised turnover of €212.5m, reported in its financial year to the January 31, 2009.
"This takeover represents a substantial investment and a significant milestone for The Barry Group as we look to build our footprint in the mainstream off-sales sector," said Barry Group managing director Jim Barry.
"The takeover is a significant deal in the FMCG industry in Ireland and the addition of the Carry Out brand to the suite of existing Barry Group channels offers fantastic potential to grow the Carry Out franchise into a position of robust growth and further expansion in the future.
"We believe that this deal will allow us grow our scale and leverage our increased buying power across all our selling channels."
The Carry Out business was previously owned by Cork-based group, Galvin’s Wholesale Ltd., which went into examinership in September 2009.
Galvin’s wholesale went into receivership earlier this month and Barry Group has acquired the Carry Out business from the receiver.
The financial aspects of the acquisition are strictly confidential.