Electricworld, the Belfast-based chain of electrical stores, has expanded its operations in the Republic, with the acquisition of the O'Connors electrical store in Galway Retail Park for an undisclosed sum.
The O'Connors store is one of the largest in the Republic and the acquisition is part of a £12 million investment by Electricworld in the Republic. The group has already opened a megastore in the Blanchardstown Centre in Dublin.
The O'Connor family is retaining its city centre business in Shop Street in Galway and all of the Electricworld after-sales business will be carried out by O'Connors.
"The O'Connor family have created much goodwill over the years in their stores in Galway and we have every intention of retaining and developing this goodwill," said Electricworld chief executive, Mr Les Armstrong.
Electricworld is the biggest electrical retailer in Northern Ireland and has a turnover of over £50 mil lion sterling. The company evolved from the buy-out of the retail subsidiary of Northern Ireland Electricity by a consortium headed by Mr Armstrong.
He owns 25 per cent of the company, venture capital group 3i owns 45 per cent of Electricworld with NIE retaining a 30 per cent stake.
