A private equity-backed group in the UK has agreed to acquire Dublin-based catering kitchen specialist Brodericks for an undisclosed sum.
The deal was announced on Monday along with the news that the Dublin 22-based company, which is not associated with the similarly-named confectionery company, has appointed former Java Republic managing director Grace O’Shaughnessy as its new chief executive.
Ms O’Shaughnessy, who has also held senior roles in Lir Chocolates and Kylemore Foods, will remain with the kitchen and catering equipment supplier following its acquisition by UK-based JLA from its current owners, joint managing directors Catherine Hayes and Declan Godfrey, who will remain with the business.
JLA, which is wholly owned by private equity firm Cinven, provides catering, laundry and heating services in universities, care homes and other commercial settings. Employing around 1,100 people, the UK company generates annual revenues of around £200 million.
Broderick Brothers, meanwhile, is one of the biggest designers and suppliers of catering kitchens to corporates in the Republic. The company, which has premises in Dublin and Cork, specialises in the sale of equipment and spare parts to the food processing industry.
The group, which employed some 80 people and generated revenues of €25 million last year, has installed kitchens in diverse settings, according to its website, including the Irish Naval Service’s LÉ Róisín vessel and the Davenport and Alex hotels in Dublin 2.
The transaction is subject to approval from the Competition and Consumer Protection Commission.
Commenting on her appointment and the company’s acquisition by JLA, Ms O’Shaughnessy said she has long admired Brodericks as a company. “It has firmly established itself as the Irish market leader based on deep technical knowledge, a highly efficient installation service and superior customer experience,” she said. “I look forward to working to take the business to the next level as part of JLA.”
Ms Hayes, who will remain with the business alongside Mr Godfrey following the deal’s conclusion, said both Brodericks and JLA will benefit “from enhanced capabilities, expertise and scale.
Mr Godfrey said the interest from JLA in Brodericks is “a testament to the market position” it has established over the decades. “This is an exciting time for Brodericks as we continue to scale the business following years of expansion and growth,” he said.