Musgrave has announced the acquisition of Drinks Inc, a Belfast-based drinks distributor with an annual turnover of £66m.
Financial details of the deal were not disclosed.
Founded in 2001, Drinks Inc is one of the largest and fastest growing independent drinks distributors on the island of Ireland. The company currently carries a portfolio of over 1,000 products including spirits, wines, beer and soft drinks.
Drinks Inc is the exclusive distributor of well known brands such as BrewDog, Dingle Distillery and Isla Negra.
Kevin O’Leary has been appointed as the new Business Director of Drinks Inc with Paul Camplisson, owner of Drinks Inc, remaining on a consultancy basis. The company will continue to trade as a standalone business.
Chris Martin, Musgrave Chief Executive, said: “As one of the fastest growing drinks companies on the island of Ireland, Drinks Inc is an excellent strategic fit for Musgrave and will strengthen our existing offer to the market. The acquisition forms part of our overarching Growing Good Business strategy to deliver long term sustainable growth and follows a £28m investment programme to open 20 additional stores and revamp 40 existing stores in Northern Ireland.”
Paul Camplisson, owner of Drinks Inc, added: “Becoming part of Musgrave is a fantastic opportunity for the Drinks Inc business. In a relatively short period of time, we have firmly established ourselves as one of the largest independent drinks distributors in the market. Musgrave will enable us to provide an enhanced service to our customers and their track record of growing successful customer-focussed businesses makes this the right move for Drinks Inc.”