Retail
Iceland saga: inside Tesco’s €4m deal that melted away
Documents reveal how close the supermarket giant’s Irish expansion was to being completed before it fell apart last week
Tesco was willing to spend more than €4 million to buy the company behind the Iceland chain of stores in Ireland, and invest tens of million more on the business, before it pulled out of the deal at the last minute, the Business Post can reveal.
The supermarket giant was planning to undertake a major refit of stores to reopen them under the Tesco brand, which is understood would have involved a multimillion euro investment.
