Musgrave Group, the Ireland-based retailer, will embark on a major expansion programme this year, creating 1,200 jobs and opening new outlets around the country.
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The company plans to invest some EUR180m (US$263m) on expanding its Irish network of stores and upgrading its existing ones over the next 12 months. The number of new stores Musgrave will open is yet to be confirmed.
Donal Horgan, managing director of the SuperValu and Centra franchises, told just-food: “The Irish retail sector is extremely competitive, but SuperValu is continuing to trade well. We expect the group to increase its store numbers in Ireland over the coming year.”
Chief executive Chris Martin said Musgrave had experienced a “very satisfactory year”, with its SuperValu and Centra stores both performing “exceptionally well”.
The group had sales of EUR4.6bn (US$6.7bn) in 2006 and made a pre-tax profit of EUR81m (US$118.4m).
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By GlobalDataHe said the majority of the cash would be invested in individual retailers who operate stores within the Musgrave Group franchises.
The group already operates more than 445 Centra stores and 186 SuperValu outlets in the Republic. It also has significant operations in Northern Ireland, mainland UK and Spain.
In mainland UK, the group owns the franchise for Londis, which it acquired in 2004 for EUR90m (US$131.5m).
