Following a Sunday Independent article last week that suggested that Barry Group may be considering a bid for rival Gala Retail, Gala chief executive Gary Desmond has confirmed to Retail Intelligence that the group is "not for sale".
In the article, which ran in the 17 January edition of the paper, Barry Group managing director Jim Barry confirmed that the Mallow-based operation is on the acquisition hunt.
"We have looked at one or two projects last year and we're still looking at one," he told the paper. "We're about to explore one or two other opportunities, so we would expect to make an acquisition at some stage this year."
Commenting in the same article, retail analyst Keith Harford said that he believes the Gala operation could be an 'attractive target' for Barry and his team.
Responding to the suggestions, Desmond told Retail Intelligence, "I can clarify that the Gala Group is not for sale and that no discussions have or are taking place.
“Gala has ambitious expansion plans for 2016, with 10 new retailers already committed to joining the Gala Group in the first quarter.
"Gala is also on the cusp of announcing a number of major new initiatives to further build upon the Gala brand, and several new in-store concepts will be introduced in Gala stores to distinguish and expand the Gala experience for shoppers.”
© 2016 - Checkout Magazine by Stephen Wynne-Jones
