CORK, IRELAND — Irish food wholesaler Musgrave Group P.L.C. has reached an agreement to acquire La Rousse Foods from Aryzta AG, Zurich, Switzerland. Financial terms of the transaction, which remains subject to approval by the Competition and Consumer Protection Commission, were not disclosed.
Founded by Mary Massy and Marc Amand in 1992, La Rousse Foods supplies specialty products to 1,500 customers around Ireland. Following completion of the transaction, La Rousse Foods is expected to continue to operate as a standalone brand, Musgrave said. Musgrave also owns the Centra and SuperValu chains in Ireland.
|Chris Martin, c.e.o. of Musgrave Group|
“La Rousse Foods is an excellent strategic fit for our business and complements our market-leading food service offer,” said Chris Martin, chief executive officer of Musgrave. “We look forward to working with the La Rousse Foods team and customers who will benefit from the support of Musgrave in terms of supply chain infrastructure and access to an increased product range. The acquisition forms part of our Growing Good Business strategy, which focuses on growing our brands in the food market across the island of Ireland.”Aryzta acquired La Rousse Foods in July 2015, a move the company said signaled its commitment to the Irish market and its support of Irish producers and suppliers. But two years later, La Rousse Foods has become expendable as Aryzta has engaged in a review of its investment strategy in joint ventures.