Tesco Ireland have announced its first significant investment in Ireland since it entered the Irish market back in 1997, with news the company acquires Joyce’s supermarkets.
The deal for an undisclosed sum is subject to the approval of the Competition and Consumer Protection Commission (CCPC), and will see the Joyce name disappear from the high street. It is understood that all the stores will be rebranded Tesco in line with the balance of their portfolio. .
Joyce’s will be missed by many, an independent family run business that has always offered friendly and personalised service to the local community. The business was started back in 1951 and today operates five stores in and around Galway.
Currently the company employs around 350 people all of whom will move to Tesco as part of the deal, however it is not known how the sale will affect suppliers. Joyce’s are proudly Irish sourcing most of their stock from local businesses.
The quality of the stores have been recognised in the past with the company being awarded Glanbia Best in Fresh Awards 2012 and REI Store of The Year in 2013.
Investors will no doubt be happy that Tesco acquires Joyce’s supermarkets, however for many it is the end of an era.
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