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The sale took until the middle of 2002 to complete, after which BWG conducted a fire sale of assets on this side of the Irish sea.
Four years ago it led a 220m [euro] management buyout of BWG from Pernod Ricard, and holds a 65% share.
The BWG Group's property division currently owns or leases 167 retail properties in the Dublin area.
BWG chief executive Leo Crawford reported that Spar sales last year topped 1.
BWG is an Irish and British wholesale distribution business, providing goods and services to the retail grocery trade, licensed and catering outlets.
He is sceptical about what impact the end of the Groceries Order will have on BWG and insists it is in excellent shape to weather any price war storm.
In its first major deal since last year's takeover, Ireland's BWG Foods has signed a renewed five-year deal with Maxol to supply its forecourts across the Republic.
Bestway said it had no plans to renew its interest and believed BWG had no intention of responding.
The Agreement obligates BWG to purchase a "minimum initial order" of 100 units, valued at $2,500,000 (based on MSRP), following the successful completion of a thirty (30) day test of one device at a site to be selected by BWG and CUI Global.
Chief executive Leo Crawford, finance director John O'Donnell and property director John Clohisey will each hold a third of BWG through a newly incorporated company, Triode Investments.
We're here to make getting dinner both fun and affordable and our affiliation with the Beilman Wensing Group will allow us to concentrate on our expertise - preparing unique and extraordinary foods - secure in the knowledge that our BWG purchasing program is delivering the finest ingredients and cost efficiencies.
The management team, led by BWG chief executive Leo Crawford and finance director John O'Donnell, has teamed up with businessman John Clohisey to buy the 65% stake held by private equity group Electra.
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- Buzzards Bay
- BW defence
- BW defense
- By a long chalk
- by a long shot
- by all means
- by all odds
- by and by
- by and large
- By any manner of means
- by any means
- by artificial means
- by chance
- by choice
- By cock and pie
- by degrees
- By deputation
- by design
- by experimentation
- by far
- By fits
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