BWG has paid nearly €1m to buy the lease on a rival store next door to one of its flagship Spar outlets in Dublin in a move that reflects the keen competition in the Irish convenience sector.
The store, in upmarket Merrion Row, was operated by Centra, the franchise chain owned by the Cork-based Musgrave group, a major competitor of BWG.
The lease was held by retailer Enda Martyn, who runs three other Centra shops in Dublin and one in Limerick. In a statement, Centra said Martyn had "traded successfully" for three years in Merrion Row. For the past six months, it added, Spar had continually offered to buy the lease and Martyn had now accepted "a generous offer", understood to be €950,000.
The deal was brokered by John Clohisey, the Irish businessman who, together with BWG CEO Leo Crawford and financial officer John O'Donnell, acquired the group last year for €390m.
The lease is expected to go on offer shortly, though not for retail use.
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