June 14th, 2018 – Musgrave, Ireland’s leading food retail, wholesale and foodservice business, has won the Top Family Business Award at the seventh European Families in Business Awards, held in Madrid.
Musgrave impressed the judges with its cutting-edge governance structure and its commitment to sustainability and customer well-being.
Accepting the award, Chris Musgrave, Musgrave Vice Chairman, said, “As a family business that has been in existence for over 140 years, our ongoing success comes down to our mindset of the need to grow and evolve sustainably. By putting a governance framework in place where we focus on sustaining long-term, stable relationships, we have come out stronger from economic downturns and significant world events. In this respect, it is humbling to see our values recognised by receiving this award, particularly in light of the breadth of competing businesses Musgrave was in contention with.”
Musgrave’s 2017 results show a third consecutive year of profit growth, up 9% year-on-year to €80 million before tax. Total sales also performed well at €3.7 billion despite ongoing food deflation.
The prestigious awards recognise family businesses from across Europe that excel in areas such as stewardship, governance, growth, and sustainability and are judged by family business leaders and specialists.
SGPB head Jean-François Mazaud, who presented the evening’s awards said, “Family businesses are the foundation on which the wider European economy is built, playing a huge role in the delivery of job creation, social cohesion and innovation. Congratulations to all winners, whose values contribute so much to their local communities and to our wider society.”