Oakberry Ireland, owner of the Irish master franchise for Brazilian frozen fast-food giant Oakberry, plans to open about 10 new shops next year as part of an expansion throughout Ireland, reports the Sunday Independent.
Oakberry, which has more than 400 outlets across 43 countries, produces açai bowls – a sweet snack food typically laden with topics such as seasonal fruit, peanut butter and chia seed pudding – with its stores also offering personalised smoothies and açai snack bars.
Oakberry Ireland plans to have 18 to 20 shops by the end of next year. The master franchise holder was set up by Ben Mulligan, Nick Twomey and Cian O’Donoghue, who opened their first shop in 2023. It has six outlets and two under construction, one in the Ilac Centre and the other in Blanchardstown.
Offshore wind tenders
The Government is planning to issue tenders for over 14 gigawatts (GW) of offshore wind by the end of this decade, more than four times the volume contracted to date, according to the Business Post.
The timelines for auctions are contained in a tender planning document from the North Seas Energy Cooperation, a group of EU countries and Norway looking to build out an integrated offshore energy grid in Europe’s north seas.
The document, which has been seen by the newspaper, details expected offshore wind tender dates for all the countries, with Ireland planning an additional 11.1GWs of tenders by 2030, on top of the 3.1GW auction it carried out last year.
Grafton acquisition aims
Grafton Group, the owner of DIY retailer Woodies and building materials chain Chadwicks, is planning to spend up to €350 million more on an acquisition spree after completing a landmark deal last week, the company’s chief executive has told the Business Post.
Eric Born said the firm would look at further mergers and acquisitions in Spain and Portugal, in particular, after its entry into the Spanish market in recent days.
The company last week announced it has acquired Spanish air conditioning distributor Salvador Escoda for €132 million.
“We really view this investment as an entry into building a position in the Iberian Peninsula,” Mr Born said.
Devitt’s pub purchase
Attestor Capital, a private equity firm based in London, has acquired Devitt’s pub on Camden Street in Dublin in a purchase and leaseback deal that has facilitated succession and restructuring at the Mangan Group, reports the Sunday Times.
The newspaper understands that the pub investor has paid about €15 million for the property, with brothers Eoghan and Paul Mangan staying on to run the venue.
The brothers have used the money to buy into Doheny & Nesbitt, the well-known pub owned by their father Paul and uncle Tom for almost 40 years, and they have taken over the running of the Merrion Row establishment.
Energy cost burden
Ireland’s energy costs, the highest in the EU before tax, are the top factor driving the rising number of SME insolvencies in Ireland, according to a new study reported by the Business Post.
An analysis by the advisory and restructuring division of financial advisory firm Azets Ireland found “urgent action” was needed to address the high cost of energy for small Irish businesses, particularly in the hospitality sector.
While energy prices have fallen over the past year, they remain significantly elevated since the Russian invasion of Ukraine in early 2022, Azets noted.
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