Iceland sells all 27 stores in Ireland to new franchise owner
Iceland has sold all 27 of its stores in the Republic of Ireland as part of plans to focus its efforts on the UK.
The supermarket said The Project Point Technologies has acquired its entire shareholding in the business and will continue to run the stores under the Iceland fascia as part of a franchise agreement.
Iceland said the sale will not affect the employment status of staff working in the stores.
Tarsem Dhaliwal, Iceland Foods group chief executive, said: “In the ten years since we took direct control of our stores in the Republic of Ireland, we have successfully grown the business from seven to 27 stores, created a substantial number of new jobs, and built mutually beneficial relationships with many new Irish suppliers.
“However, we have now decided that it is right to focus on retail opportunities within the UK and on the growth of our export business, and to place our stores in the Republic of Ireland on the same franchise partnership basis which operates successfully in other parts of Europe.”
Iceland said its 35 Iceland stores and two Food Warehouse outlets in Northern Ireland are not affected by the sale.
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