Aramark has agreed sales terms to buy Irish retailer Avoca which has a turnover of €59 million.
Avoca is an Irish family-run business which has a reputation for promoting artisan food and craft products. The business operates 11 destinations across Ireland including cafes, food halls and destination stores. The group also has a very successful Avoca@Home catering company.
Commenting on the acquisition, Donal O’Brien, president of Aramark’s Irish operations said:
“This is an important, strategic investment for Aramark to add innovative new platforms to serve consumers and distinguish our business. A retailer like Avoca will provide us with consumer insights that will enable us to identify future trends and ensure our clients are ahead of the curve in meeting their customers’ needs.”
Simon Pratt, managing director of Avoca commented:
“In Aramark we have found a global partner which recognises the uniqueness of the Avoca brand and is committed to maintaining the heritage of our company.
“Aramark provides us with the corporate structures, the global reach and the resources to reach our fullest potential and to continue to grow both in Ireland and internationally. Avoca has been in existence for nearly 300 years and with this acquisition we are securing its future and that of our 850 employees.”
Avoca will be a separate business unit within Aramark’s Irish operations and the Pratt family will remain involved in the company.
The deal will be subject to the approval of Ireland’s Competition and Consumer Protection Commission.