Superquinn supermarkets are officially being re-branded to SuperValu today. The Musgrave group took over the chain in 2011.

Over 2,500 Superquinn staff will be affected by the change, which resulted in the loss of around 100 support jobs at the Superquinn head office in Lucan, Co. Dublin.

SuperValu is also currently implementing a €20 million in-store investment programme which will see the former Superquinn network upgraded, and is in addition to €10 million invested last year.

The new SuperValu network will consist of 223 stores, employing 14,500 employees and handling 2.6 million transactions a week. This will see a total of 42 stores and 22% market share in Dublin.

The change follows good performance by SuperValu over the Christmas period - when it saw its market share increase to 20.1% for the last 12 weeks of 2013.

Over the past ten years, the chain has grown by 30% and achieved annual retail sales of just over €2 billion.

Senator Feargal Quinn - who opened the first Superquinn store in 1960 - spoke to Newstalk Brekafast earlier.

Martin Kelleher is the Managing Director of SuperValu. He thinks Superquinn shoppers will be happy with their plans.