THE average shopper, familiar with the dominance of supermarket multiples like Quinnsworth/Crazy Prices and Dunnes Stores, would be hard pressed to name the third largest force in the Republic's grocery market. Snapping at the heels of the majors is the privately owned group Musgrave, a low profile operation which, nevertheless, now commands 17.6 per cent of the Irish market. Cork based Musgrave this week returned strong annual results, with pre tax profits surging 26 per cent to just under £18 million.

Musgrave possesses a wealth of cash flow assets like Supervalu and the L&N supermarket chain, along with owning franchises to the Centra and Centra QuickStop chain of convenience stores. Outside Ireland, the group has a majority shareholding in Spanish supermarket chain Dialsur.

Although the Spanish market is increasingly competitive, Musgrave hints that it would like to increase its market share, possibly through acquisitions.