His father John Francis McGuire was a businessman who bought Brown Thomas department store in Grafton Street, Dublin, in 1933.[1] Under Edward McGuire's direction, the old fashioned business was transformed into the most fashionable store in Dublin.[1] Edward McGuire was managing director and then chairman, until December 1970 when the company was sold to Galen Weston.[1]
In 1926, he married Bridget Neary; and they had four children, one of whom was the painter Edward McGuire. Bridget died in 1953 and Edward married Kathleen Rappalle in 1958.[1]