CORK-BASED GROCERY retailer and wholesaler the Barry Group has completed its acquisition of the Carry Out off-licence business for an undisclosed sum.
The Carry Out chain has 52 stores nationwide and an estimated 35 per cent share of the specialist off-licence market. It was previously owned by Cork-based group Galvin’s Wholesale, which went into examinership in September. The Barry Group, which operates the Costcutter and Quick Pick grocery store franchises, said it expects the takeover to add €42 million to its annualised turnover of €212.5 million.
“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 managing director Jim Barry. “We believe this deal will allow us grow our scale and leverage our increased buying power.”
The Barry Group, which operates from a 125,000sq ft central distribution centre in Mallow, employs 218 staff and suppliesover 700 stores including 230 affiliated stores under the Costcutter, Buy Lo and Quik Pick brands.
In September, it reported sales for the year to the end of January up 4 per cent on 2008. Group profit before tax rose to €2.67 million.
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