Retail group buys Ireland’s retail chain for €1.4bn in €1bn deal

Retail group Retail Ireland has acquired a majority stake in the Irish supermarket chain Amartyr for € 1.4 billion.

The Irish Times reported the deal was reached on Monday.

The acquisition of Amarty’s retail operations, which includes stores in Cork, Galway and Dublin, is expected to generate €100 million in annual revenue for the Irish retailer.

“The combined company will be a powerful player in the marketplace and a catalyst for the sector,” Retail Ireland chairman James Byrne said in a statement.

Amartyr operates over 1,000 stores across the UK, Ireland and the Netherlands.

The company has a market value of about € 4.5 billion.