Cox's Cash & Carry, led by Dermot Cox (73), has agreed sale terms with BWG Foods, which operates the Spar network.

The deal has been notified to the Competition and Consumer Protection Commission and is subject to the regulator’s approval.

The proposed takeover involves Thurles Wholesale Cash and Carry Ltd, which trades as Cox's Cash and Carry.

The CCPC notification states that the assets relevant to the proposed transaction is a list of Thurles Wholesale Cash and Carry Ltd's current customers.

Thurles Wholesale Cash and Carry’s parent company is Cox's Cash & Carry Ltd, which has other interests not part of the deal.

In Association with

The cash and carry business, based in Newbridge, had turnover of €16.m in 2019, down from €18.8m the previous year. Operating profit was €114,000 and net profit was €55,000.

December 2019 trade debtors at Thurles Wholesale Cash and Carry amounted to €2.8m and total liabilities were €4.9m, including c.€1m in bank debt. The business employed 55 people in 2019.

The business being sold was established in September 1964. It is owned equally by Dermot Cox and Ann Cox.

Images: Getty/Photocall Ireland