Tesco Ireland today announced the acquisition of ten Joyce Supermarkets retail stores in Galway. The acquisition is subject to approval by the Competition and Consumer Protection Commission (CCPC).
The supermarkets are currently operating under the Joyce family’s independent brand and subject to CCPC approval, and will be rebranded and design as Tesco stores throughout 2022 on a phased basis.
The stores will offer Tesco-branded and private label products and will include a range of services and support such as Grocery Home Shopping, Click & Collect, F&F apparel and homeware, as well as a Tesco Community Fund.
Joyce employees will be welcomed into these stores as colleagues in Tesco Ireland where they will be supported to continue and grow their career in Tesco. As part of its commitment to Irish agri-food, Tesco will work with suppliers for the Joyce business to identify and develop opportunities.
Since Tesco first entered the Irish market in 1997, it has continued to increase its store footprint – investing in communities nationwide, leading the market in online retail groceries, and expanding its distribution network across Ireland. This acquisition will mark the first major investment by Tesco in a portfolio of stores in the Republic of Ireland during that time.
Commenting on the announcement, Tesco Ireland CEO Carrie Daniels said the deal is part of the company’s strategic ambition to bring its quality and value to more customers:
“I am really pleased that we have reached an agreement with Joyce Supermarkets and we look forward to bringing Tesco to more communities in Galway next year – this agreement provides a great platform for us to bring value, quality and product range to more customers, and bring home grocery shopping to more. of locations in western Ireland.
“Pat Joyce, management and the broader team at Joyce Supermarkets have built a great business over many years, and there are great aspects of the Joyce business that can complement our Tesco offering. We look forward to welcoming Joyce’s colleagues and customers to Tesco and engaging with suppliers and the broader community in Galway, subject to To review the CCPC, as soon as possible.
“We are particularly pleased that we have reached this exciting milestone as Tesco approaches 25 years in Ireland. During this time, we have focused on creating quality local jobs, supporting local suppliers and giving back to our communities – we look forward to continuing in this vein as we expand through This acquisition is in Galway. »
This is a historic moment for his business, said Pat Joyce, General Manager of Joyce Supermarkets:
“We have carefully considered this opportunity and are very pleased to transfer our business to a well-established Tesco brand that promotes quality and excellence across its business, and which has a well-established presence in the Irish market. I would like to express our gratitude for the loyal support of our employees, suppliers and customers and would like to sincerely thank them for being a part of our journey on over many years. Should this acquisition be approved, I believe this move will be of great benefit to them, and I look forward to continuing our business well into the next year as part of a transitional period.”
The Joyce family will retain full ownership and control of their other business interests.