SuperValu franchise owner Musgrave recorded €2.6 million in profit each week last year as turnover reached a new high, fresh figures show.
The group – which also owns the Centra, Donnybrook Fair and Daybreak franchises – saw turnover in 2024 reach €5.2 billion, a 4 per cent increase on the previous year.
The Cork-headquartered supermarket and wholesale group’s accounts for last year show pretax profits rose 5 per cent to €134.5 million from €116 million.
It ended 2024 with €170.5 million in cash after paying a €22 million dividend to its shareholders, up from €20.8 million in 2023.
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Musgrave chief executive Noel Keeley said the group “delivered a solid performance” thanks to its diversified business model despite a “challenging market backdrop”. He said the company has “invested substantially” in its retail brands to improve the customer experience in-store and online.
Following investment of €237 million in 2023, the group invested €155.8 million in the business last year, including the acquisitions of fresh food delivery service Clean Cut Meals, wine wholesaler Febve and Robb Brothers Wine Merchants.
The group said it will continue to seek out opportunities to acquire businesses domestically and abroad.
“We are acutely aware that consumers are faced with cost-of-living pressures and we remain resolute in our commitment to deliver the best possible value to them,” Mr Keeley said.
The Musgrave boss warned that the group has “continued to navigate challenges” in 2025, including supply chain inflation as well as increases in energy and employment costs.
[ Grocery inflation surges to highest rate since 2023Opens in new window ]
Luke Hanlon, the managing director of SuperValu and Centra at Musgrave, noted that “cost of living and value will remain critically important” to consumers, who also demand “inspiring, healthy and local food offerings” from the stores.
Musgrave has 615 Centra and 258 SuperValu stores scattered across Ireland, the majority of which are in the Republic. In 2024, it invested a combined €60 million in revamps of SuperValu and Centra stores.
The group also has 310 Daybreak locations in the Republic, as well as 71 Mace shops in Northern Ireland and 91 Dialprix stores in Spain. These employ more than 44,000 people.
The group said that SuperValu, Centra and Donnybrook Fair retailers had installed more than 700 deposit return scheme machines across 560 of its franchise stores in the Republic at a cost of €25 million. A total of 192 million containers were processed from the launch of the scheme to the end of 2024.
Noting its sustainability goals, the group installed more than 8,000 solar panels across its SuperValu, Centra and Musgrave warehouses during the year, the equivalent to powering 800 homes.
The group, which adopted the use of hydrotreated vegetable oil – reprocessed cooking oil – in its vehicle fleet, used 1.4 million litres of the fuel and “significantly cut” its diesel carbon emissions as a result. It has set out a goal of reaching three million litres by 2030.
