A deal has been struck between the Musgrave Group and Superquinn. Musgrave, Ireland has apparently bought the huge supermarket chain named Superquinn and is of the view that they are going to make huge benefits out of the same.

The sum for which the chain has been bought has not yet been made public. It is a huge alliance and there is a lot of expectation riding on the way things would go about from here for the two. Musgrave is a huge and renowned firm that owns a number of supermarket chains and they have now taken over another huge place of public interest and this shall benefit them in more than one ways.

It was revealed by the authorities at Musgrave in a comment that this transaction has been done keeping in mind the long term viability of the firms and what would benefit both of them in the time to come.

"Superquinn will remain under the management of the joint receivers pending regulatory approval and the completion of the transaction”, they revealed.

"A number of months ago we expressed our concerns to the Government that the banks might make a bid to change the ownership of this company despite the fact that Superquinn is trading successfully and has only recently signed off on a two-year business plan with its banks”, said Mandate Assistant General Secretary, Gerry Light.