Tesco expands Irish portfolio as it acquires Joyce’s supermarket group

Supermarkets

Tesco Ireland is expanding its store portfolio with the acquisition of the family-owned Joyce’s supermarket group, for a currently undisclosed sum.

The deal marks Tesco‘s first significant investment since it first launched into the Irish market in 1997, and will give the retailer a much-needed boost in the Galway area, taking its total portfolio to 15 stores.

The ten supermarkets currently operate under the Joyce family’s independent brand and will be rebranded and designed as Tesco stores throughout 2022.

Tesco Ireland has 151 stores nationwide and employs more than 13,000 people. The Joyce’s group currently employs a team of over 500, who will become Tesco Ireland employees once the deal is complete.

As part of its ongoing commitment to support local producers, Tesco will also continue to engage with Joyce’s suppliers to identify areas where they can continue to work together in the future.

“I look forward to bringing Tesco to more communities in Galway in the year ahead,” said chief executive Kari Daniels, explaining that the deal is part of the company’s overall strategic ambition.

READ MORE: M&S cancels online Christmas food orders in Ireland

“This agreement provides a great platform for us to bring our value, quality and range of products to more customers.

“Pat Joyce, the management and wider team at Joyce’s supermarkets have built a fantastic business over many years and there are great aspects of the Joyce business that can complement our Tesco offering,” she added.

Pat Joyce, managing director of Joyce’s, said today’s deal was a historic moment for his business.

“We have carefully considered the opportunity and are very pleased to pass our business on to an established brand in Tesco that promotes quality and excellence across its business, and which has an established presence in the Irish market,” he said.

“Should this acquisition be approved, I believe the move will be of significant benefit to them, and I would look forward to continuing our work well into next year as part of a transition period.”

The acquisition is still subject to the approval of the Competition and Consumer Protection Commission (CCPC).

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