Fitzwilton

Fitzwilton

Infobox Company
company_name = Fitzwilton
company_
company_type = Private
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founder = Sir Anthony O'Reilly and Peter Goulandris
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Fitzwilton is a privately held investment company, today owned by Sir Anthony O'Reilly and Peter Goulandris through Stoneworth Investment Ltd. It has been loss-making for much of its history.

Recent history

Northern Ireland deal

In June 1997 Fitzwilton signed a joint venture deal with Safeway plc which saw 15 of its Northern Irish Wellworths stores converted to Safeway outlets. The remaining Wellworths stores were sold to the Musgrave Group. [cite news| first = Helen| last = Slingsby| title = Safeway snaps up Irish supermarkets| work = Evening Standard|publisher = Associated Newspapers| page = 33| date = 1997-06-19| accessdate = 2007-03-22] Safeway's move into Northern Ireland followed that of J Sainsbury and Tesco; Sainsbury's announced its expansion into the province in 1995 and opened its first store in December 1996, while Tesco opened its first store in October 1996 and purchased Associated British Foods' Stewarts/Crazy Prices group in 1997. Fitzwilton objected to Sainsbury's planning applications on the grounds that authorities had "moved mountains" to allow the company's developments to proceed. [cite news| title = Sainsbury's rejects "preference" claims| work = Irish Times| publisher = The Irish Times| page = 14| date = 1995-06-26| accessdate = 2007-03-22] Fitzwilton was successful in delaying Sainsbury's Coleraine store, but failed ultimately to prevent the development.

Taken private

Fitzwilton plc was de-listed from the stock exchange in 1998 when O'Reilly and Goulandris completed their takeover. [cite news| first = Brendan| last = McGrath| title = Shares fall but sharp drop is averted| work = The Irish Times| page = 19| date = 1998-09-22| accessdate = 2007-03-22]

In July 2002 Safeway purchased Fitzwilton's 50% share of Safeway Stores (Ireland) for £45 million. [cite news|first = Robin| last = Morton| title = Safeway takes full control| work = Belfast Telegraph| publisher = Belfast Telegraph Newspapers| date = 2002-07-09| accessdate = 2007-03-22]

Today

Fitzwilton's main residual business is Rennicks, a supplier of "road traffic management products", mostly metallic roadsigns but also, for example, Portable Changeable Message Signs (PCMS) for which it holds exclusive marketing rights for Ireland and the UK. [cite news| first = Laura| last = Slattery| title = Fitzwilton sees losses narrow to €3.8m| work = The Irish Times| publisher =
page = 18| date = 2006-10-28| accessdate = 2007-03-22]

References


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