Musgrave has announced that it has agreed to acquire Donnybrook Fair for an undisclosed sum, subject to approval by the Competition and Consumer Protection Commission.

The acquisition includes Donnybrook Fair’s five premium food stores (Donnybrook, Stillorgan, Malahide, Greystones and Baggot Street) situated in Dublin as well as a gourmet food production facility.

Established in 1991, Donnybrook Fair is a family business which employs 250 people.

Recently published accounts for Donnybrook Fair Limited showed that the firm’s turnover increased by more than €3.7 million during the year to 31 January 2017.

Sales reportedly hit the €27.6 million mark during the 12-month period.