A LEADING Co Donegal company with annual revenues of around €30M has sold out to one of its rivals.
Wholesale grocery business Morris Brothers in Convoy – a family concern since 1952 – has been taken over by giant Dublin company BWG. It had revenues of €1 Billion last year.
Fintan and Joseph Morris and their 30 staff will remain with the business after the buy-out.
Morris Brothers services more than 450 retail businesses across Donegal, Sligo, Cavan, Mayo and Roscommon.
In a statement Leo Crawford, group chief executive of BWG, said: “It’s a statement of intent that we are growing our business.
“We’re reasonably pleased with how the business is trading but the grocery sector is not a market showing growth.
“The question is, have we reached the bottom or not? I wouldn’t say with 100 per cent certainty that there will be a recovery next year.”
Mr Crawford said BWG wholesale revenues in the Republic declined by 3 per cent last year to about €1 billion.
“We were happy with that, given the tough market and given the price deflation,” he said.
In a statement, Fintan Morris, a director of Morris Brothers, said he was “delighted” to be part of BWG and that he looked forward to working with the company to “sustain continued growth in our business”.
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