Happy Pear Agrees Exclusive Musgrave Deal

16 Jan 2020 | 01.23 pm

Happy Pear Agrees Exclusive Musgrave Deal

Family firm booked net loss of €670,000 in 2018

16 Jan 2020 | 01.23 pm

Musgrave has announced an exclusive partnership agreement with The Happy Pear for production, distribution and marketing of all Happy Pear retail products.

The Happy Pear will continue to operate its cafés, foodservice franchise partnerships, production facilities plus educational courses and related services, which are excluded from the partnership. The agreement also includes a framework for both companies to co-operate in developing and activating international markets for Happy Pear retail products.

The Happy Pear entered the Musgrave orbit in 2013 on SuperValu’s Food Academy programme, and its products are sold in SuperValu, Centra and independent retailers and health food stores.

Flynn & Flynn Global Trade Ltd, the Happy Pear operating company, booked a net loss of €670,000 in 2018 and a net loss of €580,000 the year before.

Year-end creditors amounted to €2.6m, up from €1.6m in 2017, and net current liabilities in December 2018 stood at €640,000. Trade debtors expanded from €600,000 to €1m through 2018 and the company’s largest year-end creditor related to invoice finance, at €940,000. The five directors shared €337,000 in emoluments, up from €270,000 the year before.

Musgrave CEO Noel Keeley (pictured) stated: “People are becoming more health-conscious and as Ireland’s leading retail group we have a driving commitment to support healthier lives. The Happy Pear is an excellent strategic fit for Musgrave and will strengthen our existing vegetarian and vegan offer to the market.

“We are looking forward to bringing the Happy Pear products to more people across the island of Ireland and to new markets internationally. This agreement also supports our Growing Good Business strategy of partnering with brands to deliver long term sustainable growth.”

Founders Dave and Steve Flynn commented: “We want more people to experience our healthy foods and we want to develop and offer new products. Musgrave gives us the scale we need and is a like-minded partner with a team of retailers who believe in helping people to live healthier lives.”

 

 

 

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