The discount chain, which describes itself as the largest single price value general merchandise retailer in Europe, has more than 500 stores across the UK and Ireland.

Poundland entered Ireland in September 2011 under the “Dealz” brand, where it sells the vast majority of its products for €1.49.

Revenue grew from £641.5m in 2011 to £880.5m in the 2013 financial year.

Jim McCarthy, CEO of Poundland, said: “The value retail sector has been through a period of profound change in scale, customer perception and financial performance. The sector is now a mainstream feature of the UK retail market and Poundland has been a central architect of that change.”