BusinessPlus.ie analyses the accounts of the Cork Top 50 Irish firms [Video]

Nick Mulcahy analyses the accounts filings of the Cork Top 50 biggest Irish firms

Musgrave Group (No.1) retains its top spot of the Cork Top 50 ranking of indigenous private enterprise, with a 16% improvement in shareholders’ funds through 2022.

The business was founded in 1876 and is family- and employee-owned.

Musgrave’s model is to co-create brands with retail partners and equip them with sales, marketing, technology, finance and logistical expertise.

Musgrave owns 12 brands on the island of Ireland and in Spain across food retail, wholesale and foodservice.

The group also operates cash and carry and retail outlets in Ireland and Spain.

The brands operated by the group are: SuperValu, Centra, Frank and Honest, Donnybrook Fair, MarketPlace, La Rousse Foods, Daybreak, Italicatessen, Mace, Drinks Inc, Dialsur and Dialprix. In a saturated grocery market, Musgrave’s growth strategy centres on bolt-on buys.

Italicatessen, a specialist distributor of Italian produce, was acquired in November 2022 for a …