Musgrave Group has received regulatory approval for the completion of its acquisition of J&J Haslett, a major food wholesaler and cash and carry business in Northern Ireland.
The transaction, which will be completed on September 17, was subject to the regulatory approval of the Competition Authority in the Republic of Ireland and the Office of Fair Trade in the UK.
J&J Haslett, which has been in business since 1854, supplies almost 200 Mace and 70 XL Stop and Shop stores as well as operating seven Holmes cash and carry outlets. The business in the year to December 31, 2006 had a turnover of £192 million and employs 360 people at eight locations across Northern Ireland.
Chris Martin, ceo of Musgrave Group, said: “We are pleased that regulatory approval has been granted and that the transaction can now be completed. J&J Haslett represents an excellent fit with Musgrave in terms of values and culture. We are committed to working in partnership with its entrepreneurial Mace and XL Stop and Shop retailers as well as its Holmes cash and carry customers to further grow the business in the Northern Ireland convenience market.”
