ADM Londis is set to convert from a co-operative to an unlisted public limited company (plc) following an overwhelming vote in favour of the change by its members at the weekend.
The move will mean that individual shopkeepers will own tradeable shares in the group, which had profits of €8.62 million on the back of a turnover of €293 million last year.
A statement said that the new corporate structure would allow the retailers to buy shares in the group and realise the value of those shares in the market place.
ADM Londis, which owns the symbol group in the Republic, has a network of 330 stores around the State and has plans to increase this by 15 before the year-end. It currently employs over 5,000 people, but this will grow by 300 once the new stores have been opened.
The group will also rename itself ADM Londis plc.
Commenting on the move, joint chief executive, Mr Stephen O'Riordan, said the move would create a more competitive environment for the company.
"This recent development further strengthens our commitment to our retailers, demonstrating that we are no longer just another franchise," he said.
He said that the group would drive retailer turnover, margins and overall profitability.
