Irish supermarket chain Superquinn is to be sold to a consortium of investors for a reported €350m (US$458.3m).

Select Retail Holdings, an unlimited company assembled by Simon Burke, former chairman of toy store Hamleys, corporate financier Simon Cantrell, and property consultant David Courtney, has agreed to acquire the 100% holding in Superquinn owned by members of the Quinn family, reported the Financial Times.

According to market research firm TNS, Superquinn has an 8.6% share of the Irish grocery market, compared to Tesco’s share of 25.4%, Dunnes’ share of 22%, and Musgrave’s share of 21.9%.