Avoca, the independent Irish retailer is to be sold to an American multinational company by the name of Aramark. While the exact figure is unknown, the price is thought to be upwards of €60 million.
According to the Irish Independent, the deal is with a view to securing both the future of the 300 year old company and that of their loyal employees. With eleven outlets across Ireland accompanied by a catering company, Avoca have over 850 staff in Ireland with turnover of €58.8m last year.
Aramark employs 270,000 people worldwide and offers Avoca the opportunity continue to grow both in Ireland and internationally.