Musgrave Group plc Announces Establishment of New Operating Division

11/10/2011

Musgrave Group plc (Musgrave) has today announced the establishment of a new operating division, Musgrave Operating Partners Ireland which will run the Superquinn business. Following its completion of the acquisition, Musgrave has appointed Tim Kenny as Managing Director of Musgrave Operating Partners Ireland. Tim was previously Group Finance and Business Development Director at Musgrave Group and will be responsible for establishing the new division as well as the integration of the Superquinn business into the wider Musgrave Group.

Chris Martin, CEO, Musgrave said: “The establishment of this new division is the first step in the gradual integration of the Superquinn business into the Musgrave Group. Superquinn will be run within Musgrave Operating Partners Ireland under the leadership of Tim Kenny. Tim was instrumental in the acquisition process and it is logical that he should now lead Musgrave Operating Partners Ireland.

“We will now apply our considerable expertise to help stabilise a business that has been greatly challenged by changes in the market place 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.”

This new division will allow Musgrave to develop the future Superquinn business while maintaining the existing focus on its other divisions. The integration of Superquinn into the Group is an important element of Musgrave’s growth agenda and will help sustain the Group’s overall competitiveness.

Tim will be joined on the management team of Musgrave Operating Partners Ireland by Eoin McCormack, formerly Trading and Marketing Director of Musgrave Wholesale Partners, who has been appointed Trading and Marketing Director of Musgrave Operating Partners Ireland. Richard Collins has been appointed Finance Director of Musgrave Operating Partners Ireland and Clare Leonard as HR and Operations Director. Both previously held similar roles in Superquinn.