Johannesburg-listed The Spar Group, which fully acquired BWG about four years ago, released its results for its 2025 financial year last week. The Irish business recorded revenue of over €1.74bn and pre-tax profit of almost €48.1m.

Angelo Swartz, group CEO of The Spar Group, said Ireland continues “to validate the strength of the independent retailer model”.

“The takeaway is this, Ireland is not dependent on a single lever,” he said. “Its resilience comes from channel diversity, disciplined pricing, and a strong network of retailers.

“At an operational level, the recovery in the second half was meaningful. Retail performance improved with food inflation normalising and strong summer weather.”

Moegamat Reeza Isaacs, group chief financial officer at The Spar Group, said the Irish convenience retail sector was “very competitive”.

Mr Isaacs said he believed the Irish retail market was “mature”, and that BWG is exploring opportunities to acquire stores when owners want to retire.

“And we are taking a careful look at the stores and the returns they generate before we acquire them,” he added. “We declined some of them this year as they do not meet the required hurdle rates.”

Mr Isaacs also spoke about the sale of The Spar Group’s businesses in Poland and Switzerland, indicating potential upsides for Ireland going forward.

“These businesses did not fit the investment thesis of the group and will drag on not just capital and returns, but also management time,” he said.

“We will focus available capital and our time on South Africa and Ireland going forward.”

Mr Swartz also praised BWG’s Brevato coffee brand, which he said was in 30 stores. He believed the brand was a “good example of how we’re driving incremental basket value and high-margin convenience”.

The messages about BWG and Spar’s Irish business come as the convenience retailer works through a new strategy for its Spar business.

In April, John Moane, the recently appointed chief executive of BWG, shared details of the new business strategy with the Sunday Independent.

The convenience retail group plans to increase its Spar store network to 450 outlets nationwide over the next three years, up from 420. The CEO forecast a €30m investment, predominantly in new stores and the revamp of some existing sites.