date:Aug 12, 2014
BWG Group, which manages the Spar franchise in Ireland, announced that SPAR South Africa is to invest 55 million in a joint venture with the its management team to acquire the BWG group of companies.
SPAR South Africa, which boasts annual sales of around 3.5 billion and a market capitalisation of approximately 1.5 billion, will take 80% of the new venture, with the remaining 20% owned by Leo Crawford, John Clohisey and John ODonnell.
Todays announcement also secures a further reduction in BWG