Annual report 2024
Musgrave achieved solid results in 2024 despite a challenging market backdrop. Our success was driven by organic growth, new store openings and the impact of acquisitions.
Leading in food
We invested substantially in our retail brands to provide great value for shoppers and enhanced customer experiences through digital innovation in-store and online. Our wholesale and foodservice business saw further expansion through acquisitions as we continue to build a world-class food and beverage business.
This year we have continued to navigate challenges including supply chain inflation and increases in energy and employment costs. We are acutely aware that consumers are facing cost-of-living pressures, and we remain resolute in our commitment to deliver the best possible value to them.
These results are testament to the value of our diversified business model, as we continue to deliver on our strategy and growth ambition.
“We have invested significantly in the expertise of our people and teams to deliver transformation across the business, leveraging technology like AI, machine learning and automation to improve processes and deliver digital innovations.”
Noel Keeley, CEO, Musgrave
At a glance
2024 financial key facts
Group turnover
€5.2 billion
2023: €5 billion
PROFIT BEFORE TAX
€134.5 million
2023: €128.1 million
NET CASH
€170.5 million
2023: €193.0 million
MUSGRAVE RETAIL SALES
€6.6 billion
Republic of Ireland
€5.8 billion
Northern Ireland/GB
€0.6 billion
Spain
€0.2 billion
TOTAL RETAIL SALES BY BRAND
Supervalu
€3.5 billion
Centra
€2.5 billion
Daybreak
€0.3 billion
Dialprix
€0.2 billion
Other brands
€0.1 billion
Our brands
183
GREAT TASTE
AWARDS
SuperValu, Centra, Frank and Honest, Donnybrook Fair, Moo’d
and Happy Pear
12
SHELFLIFE GROCERY
MANAGEMENT AWARDS
SuperValu, Centra,
Donnybrook Fair
and Daybreak
108
BLAS NA HÉIREANN
AWARDS
SuperValu, Centra and Food Academy
7
WORLD CHEESE
AWARDS
SuperValu Signature Tastes
Musgrave España launched a new and freshly updated store format for Dialprix, focused on fresh products and a convenience-centered layout with extended hours and enhanced food‑to-go section.
Our people
Growing Good Business – a podcast series by Musgrave was launched in January 2024 and reached number 1 in the Spotify charts in the Business category, with more than 5,000 listens for the first series.
44,000+
colleagues across our
business and brands
Musgrave NI wins Employer
of the Year and Corporate
Community Champion
at the Belfast Telegraph
Business Awards
Musgrave wins Gradireland Best Graduate Training and Development Programme, Business/Management
Musgrave joins 30% Club, a global campaign dedicated to advancing gender balance in leadership
Sustainability
1.4 million
litres of hydrotreated vegetable oil (HVO) used to replace diesel in our supply chain lorry fleet
5,000
native trees planted by Musgrave NI, with a pledge to plant 50,000 by 2032
Musgrave Sustainable Supplier Initiative launched to drive collective action on issues like carbon reduction and food waste with suppliers
Musgrave wins Sustainable Energy Project of the Year at the PwC Business Post Sustainable Business Awards
More than 8,000 solar panels were installed on SuperValu, Centra and Musgrave warehouse buildings in 2024, generating enough annual electricity to power over 800 homes. This included new solar systems on 7 SuperValu and 21 Centra stores, Kilcock distribution centre and extensions to the solar systems at Fonthill and Tramore Road.
1.7 million+
meals donated to Irish charities
with food distribution charity
partner FoodCloud since 2016
1 million+
hours of time volunteered in
TidyTowns projects
€30 million
annual retail sales for Food Academy products in our stores
Frank and Honest launched a 5 year partnership with nature restoration charity Hometree