Anthony Garvey
ADM Londis has bought the Londis Topshop c-store symbol group in the Irish Republic from Tedcastle Holdings, which plans to concentrate on its core business of fuel trading and distribution.
Londis Topshop was set up five years ago by Tedcastle in an alliance with ADM Londis, the retailer-owned group which has the rights to the Londis brand in Ireland.
It offered franchisees a c-store brand and there are now 120 Londis Topshop c-stores at forecourt and high street sites across the republic, employing a total staff of 2,000.
The purchase price has not been disclosed, but trade sources estimate the wholly owned subsidiary of Tedcastle, would have been worth around E8m. ADM Londis, which has a 7% share of the Irish grocery market, will now integrate the chain with its 260 existing outlets.
According to Londis Topshop, the deal will mean improved services for its retailers. Chief executive Simon Healy said: "With Londis Topshop now a part of ADM Londis, we envisage improved synergies between the two groups, resulting in more efficient operations and greater bargaining power."
Chief executive of ADM Londis, Michael Irwin, praised "the incredible growth" which the chain had achieved, and added: "We look forward to developing this excellent brand further over the coming years."
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ADM Londis has bought the Londis Topshop c-store symbol group in the Irish Republic from Tedcastle Holdings, which plans to concentrate on its core business of fuel trading and distribution.
Londis Topshop was set up five years ago by Tedcastle in an alliance with ADM Londis, the retailer-owned group which has the rights to the Londis brand in Ireland.
It offered franchisees a c-store brand and there are now 120 Londis Topshop c-stores at forecourt and high street sites across the republic, employing a total staff of 2,000.
The purchase price has not been disclosed, but trade sources estimate the wholly owned subsidiary of Tedcastle, would have been worth around E8m. ADM Londis, which has a 7% share of the Irish grocery market, will now integrate the chain with its 260 existing outlets.
According to Londis Topshop, the deal will mean improved services for its retailers. Chief executive Simon Healy said: "With Londis Topshop now a part of ADM Londis, we envisage improved synergies between the two groups, resulting in more efficient operations and greater bargaining power."
Chief executive of ADM Londis, Michael Irwin, praised "the incredible growth" which the chain had achieved, and added: "We look forward to developing this excellent brand further over the coming years."
{{NEWS }}
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