Big news for the Irish business this week.
Independent Irish retailer Avoca is to be sold to an American multinational named Aramark.
According to a report in
The Irish Independent, the sale is expected to be in the region of €60 million.
It is hoped that the move will secure the future of the company and that of its 850 staff who are based in 11 different outlets around the country.
The report states that the popular food and luxury goods store had a turnover of €58.8 million last year.
The store is currently owned by Donald and Hilary Pratt along with their children Simon, Vanessa, Ivan and Amanda, with Simon the current managing director.
Meanwhile, American company Aramark employs 270,000 people around the world and it is believed that they will be able to help the Irish company grow both on a national and global scale.
The proposed takeover will be subject to regulatory approval.
