Hogan family offers €6.5m for DCC stake in KSG

The Hogan family has offered DCC €6.54 million for its stake in catering company Kylemore Services Group (KSG).

DCC owns a 50 per cent shareholding in KSG, while the Hogan family owns the remaining 50 per cent. The Hogan family made DCC an unconditional offer of €6.54 million to acquire its 50 per cent stake.

“As a shareholder in KSG since 1999, DCC has provided excellent support and guidance as the group has grown and diversified into contract restaurant and catering services. We believe this offer now provides an opportunity for DCC to sell its shareholding in KSG so it can concentrate on its core interests”, KSG chief executive Brian Hogan said.

KSG, which has been owned and operated by the Hogan family since 1920, provides contract restaurant and catering services at 110 locations nationwide, employs 1,000 people and operates a 3,500 sq ft City & Guilds accredited culinary training academy in Dublin. KSG's retail brands include Café Kylemore, Quiznos, Coffee Cuisine, and Pure Juice Bars.

The group had a turnover in the year ended March 2015 of €54.2 million and an operating profit of €1.03 million.