business news in context, analysis with attitude

The Irish Times reports that now that its acquisition of the troubled Superquinn chain has been approved, Musgrave has established a new operating to run the business. Musgrave Operating Partners Ireland will have Tim Kenny, who has been the Group Finance and Business Development Director for Musgrave Group, as its Managing Director.

“The establishment of this new division is the first step in the gradual integration of the Superquinn business into the Musgrave Group,” said Chris Martin, CEO, Musgrave, adding, “We will now apply our considerable expertise to help stabilise a business that has been greatly challenged by changes in the marketplace in recent years. In a declining market where consumers are spending less and continuously looking for value Superquinn has struggled to retain market share. We believe that working with the Superquinn team we can tackle these considerable challenges and develop the business for the future.”
KC's View: