Industry & Business

Pratt family sells Avoca to US catering giant Aramark

 Breaking News
  • Neueda Technologies Establishing a Software Engineering Hub in Athlone Neueda Technologies, a privately-owned IT Training, development and consulting services company headquartered in Belfast, is establishing a Software Engineering Hub in Athlone, Co. Westmeath, employing 200 staff over four years. The project is supported by the Irish Government through IDA Ireland. The company will undertake software development services for global telecommunications and financial services clients at [...]...
  • Progress at Last! – British Irish Chamber Welcomes UK White Paper on Brexit The British Irish Chamber of Commerce has welcomed the publication of the white paper on Brexit by the UK Government but has called for a full agreement on services to be sought.   Commenting after the publication of the white paper, John McGrane, the Director-General of the British Irish Chamber of Commerce, said: “At last we [...]...
  • Fexco to Create 175 New Jobs in Ireland’s South West Irish-international fintech company, Fexco has announced a significant expansion of its operations headquartered in Killorglin, Co Kerry creating 175 new jobs over 3 years. The jobs form part of Fexco’s expansion strategy reinforcing the South West’s position as the driving force of Ireland’s fintech industry. The announcement was made in Killorglin by Julie Sinnamon, CEO of [...]...
  • Reliance on UK Exports Could Lead to High Brexit Cost Increases For Irish Firms Irish-owned firms rely heavily on the UK as the source of intermediate inputs, which are goods used to produce a final product. Over half of the total imports used by Irish-owned firms are sourced in the UK with many importing solely from the UK market. Many Irish-owned companies are therefore highly exposed to cost increases [...]...
  • Center Parcs Serves Up €5.2 Million in Contracts to Irish Food Companies Four of Ireland’s top food companies will benefit from a significant boost to their businesses as Center Parcs announces the awarding of food supplier contracts to its Center Parcs Longford Forest resort – due to open in summer 2019 – worth a combined total of €5.2 million. Center Parcs has awarded the following food supplier contracts: Dublin [...]...

Pratt family sells Avoca to US catering giant Aramark

November 12
10:28 2015

avocaThe Pratt family behind the Avoca chain of luxury retail outlets and cafés have agreed to sell US catering group Aramark for a price rumoured to be upwards of €60 million.

Aramark plan to “internationalise” the brand which raises the prospect of eventual expansion into the US market.

The deal is subject to approval from the Competition and Consumer Protection Commission, owing to Aramark Ireland’s extensive catering interests in this country. Aramark operates in 23 countries overall.

Simon Pratt, the managing director and second generation of Pratts to run the business will retain his current role and he will also join the senior management team of Aramark Ireland. His siblings, Ivan and Vanessa, will remain involved in Avoca along with his parents and founders of the brand Donald and Hilary Pratt.

“As a family we are very excited at this latest development for Avoca and believe that it is the right decision for us as a business and a family, at the right time and with the right partner,” Simon Pratt said. “Aramark provides us with the corporate structures, the global reach and the resources to reach our fullest potential and to continue to grow both in Ireland and internationally.”

Avoca, which was founded as a textiles business from the back of solicitor Donald Pratt’s car in the 1970s, has grown to incorporate luxury retail outlets and cafés in 11 locations in Ireland.

It also includes the Avoca@Home catering business. Avoca boosted profits last year by 70 percent as many Irish consumers reacquainted themselves with luxury goods with the ending of the economic downturn.

The group recorded a rise in sales of €1 million to almost €59 million in the year to the end of January 2015, while net profits rose to €2.2 million.

Buying a luxury retail brand is a new departure for Aramark, which has more than 120,000 staff worldwide.

About Author



Related Articles

New Subscriber

Subscribe Here


National Manufacturing Conference & Exhibition 2018

NIBRT Springboard Success Stories

Upcoming Events

  • No upcoming events
AEC v1.0.4