KILDARE-BASED wholesale grocery group ADM Londis spent €3 million earlier this month acquiring a convenience store in Ferbane, Co Offaly.
The site comprises a convenience store, pharmacy, forecourt and three apartments and was owned by Paddy Daly. It had operated under the Londis brand for the past four years.
The move is part of a plan by ADM Londis to acquire key sites around the country for its chain of Londis convenience stores.
The company is believed to be in advanced negotiations to buy two other retail sites.
Accounts just filed for ADM Londis show that it paid €6.2 million last November to purchase John Hanley Newsagents in Castlebar, Co Mayo.
Mr Hanley retired from the business last year and the shop, which opened in 1935, is now leased to a new operator.
Mr Hanley was a shareholder in Londis, which operates as an unlisted plc, but the shop retained his name rather than using the Londis brand.
The site in Castlebar comprises a shop, pharmacy, car park and two apartments.
Commenting on the purchases, Stephen O'Riordan, joint managing director of ADM Londis, said: "We are buying good businesses. This isn't a property play as such, we're buying them to help grow the business into the future."
Mr O'Riordan said the sites offer development potential. ADM Londis will shortly refurbish the store in Mayo and plans to add to the retail and residential element over time.
Londis's accounts show that the company's property portfolio was valued in February 2008 by Jones Lang LaSalle at €13 million.
The historical cost of the properties was €6.8 million at the end of December 2007.
The sites in question are its former head office in Crumlin, south Dublin and its new support office and distribution centre at Johnstown in Kildare.
ADM Londis is one of Ireland's biggest convenience store operators.
It generated after-tax profits of €5 million on turnover of €371 million in 2007.
Revenues last year grew by 4.5 per cent. Mr O'Riordan said sales in the current year were "good but not as buoyant as this time last year, but we're having a reasonable trading year".
