Simon Burke, the incoming chairman of Majestic Wines, has emerged as the head of a consortium of investors who have taken control of Irish grocery retailer Superquinn.

The investors, through their vehicle Select Retail Holdings, are paying around E500m (£350m) for the company, which consists of 20 grocery stores and nine shopping centres in Ireland.

The investors have bought an 80% share in the supermarket chain, which has 9% of the Irish grocery market.