BWG, the company that runs Spar franchises in Ireland, is set to acquire ADM Londis for €23m. The completion of the deal is subject to approval from shareholders and the Consumer Protection Commission.
Londis's board members have confirmed that they intend to accept the offer. The retailer has been operating in Ireland for over 60 years. It has 200 stores and reported sales of €195m in 2013.
BWG has said that it will retain the Londis brand - and invest in developing it.
The company was formed when four independent retailers joined together during the 1970s. It employs 20,000 people in its stores.
It announced 1,200 new jobs as part of a €100m investment in October of last year. The group has 421 Spar stores in Ireland - with a 35 percent market share and a turnover of €1.2bn.
BWG chief executive, Leo Crawford commented on the deal: “We are excited about the opportunity to grow the Londis brand in conjunction with our existing portfolio of market leading convenience brands. Through our partnership with Spar South Africa, BWG has ambitious plans for investment and expansion and we would warmly welcome Londis retailers into our business where they can be part of our future success.”
