Food wholesaler M&P O'Sullivan has acquired the Biggs Catering Company and has proposed significant investment in the well-established Bantry business' delivery routes and distribution centre as well as key new hires.
Terms of the deal were not disclosed, but M&P said the transaction would expand its wholesale catering supplies portfolio while further solidifying its presence in the foodservice sector and its position in west Cork, where it has a strong foothold.
Cork-based M&P's holdings include the Irish Homestead, White Hat, Red Abbey, and Brennan’s Caterworld ranges. M&P also operates the Gala and Your Stop retail franchises and owns two of its own Gala stores, with plans for further acquisitions.
The fourth-generation family business expects to grow by 15% over the next year with strategic investment and recruitment and has projected that sales will increase to more than €54m.
The group is targeting turnover of €75m by 2028, and has seen revenue grow to €47m from €22m since 2017.
The latest accounts for M&P O'Sullivan show the company brought in turnover of €43.1m in the 12 months to the end of January 2024 while operating profit declined marginally to €1.3m
The company's net assets grew to €9.5m. As an unlimited company, Biggs does not have to publish financial information.
“We are extremely excited about the opportunities this acquisition brings. Biggs is a fantastic company with a strong reputation in West Cork," said Eoin and Patrick O'Sullivan, directors of M&P.
"By combining Biggs’ local expertise with M&P O’Sullivan’s extensive resources and commitment to innovation, we are confident in the bright future ahead.
“As we celebrate 120 years in business, this milestone makes the year even more special, reinforcing our commitment to building on our legacy while seizing new opportunities for growth.”
M&P said it would provide "invaluable support" to help Biggs meet evolving market needs by expanding its product range, staff, and service capabilities by leveraging its Cork-based warehouse and the 15,000-strong product range of Brennan's Caterworld.
M&P operates a fleet of 28 vehicles that deliver products across categories including frozen, chilled, ambient, soft drinks, packaging, alcohol, food equipment, and catering supplies to 3,000 customers customers nationwide.
It oversees a network of more than 180 Gala stores, 30 franchises, and 40 Your Stop locations, and currently employs 115 people. The company has recently invested in temperature-controlled warehousing and vehicles.
“The hospitality industry’s recovery is something we remain cautiously optimistic about, particularly in the quick-serve and takeaway restaurant sectors," added the O'Sullivans.
"We are hopeful that the return of the lower VAT rate, as promised in the Programme for Government, will support growth in this area.”
Photo: Eoin and Patrick O’Sullivan, directors of M&P O’Sullivan, and Jim O’Keeffe, director of Biggs Catering Company. (Pic: Miki Barlok)
