Irish retailer Superquinn has stoked interest from six potential bidders and its advisers have been instructed to evaluate each option, it emerged this week.
The Irish Times has reported that all the potential offers have come from retailers, including Irish wholesale groups Musgrave and BWG, as well as UK supermarket chains Asda and Sainsbury’s.
UK number-one retailer Tesco has made it clear that it is not interested in buying Superquinn.
Select Retail Holdings is said to value Superquinn’s operating business at €250-300 million, following a strong turnaround in the trading performance in the past couple of years.
The supermarket generated sales of some €620m in 2007 and this is expected to rise to about €680m this year.
No comments yet