Wholesale, retail and foodservice giant, Musgrave, has now confirmed the details of its acquisition of Belfast-based drinks supplier, Drinks Inc.
Announcing the successful completion of the deal – reported last week by LCN – Musgrave chief executive, Chris Martin, described the new addition as ‘an excellent strategic fit’ that would strengthen the group’s current market offering.
The acquisition forms part of an overarching business strategy for Musgrave known as ‘Growing Good Business’ and comes not long after the announcement of a £28m investment programme for new and existing stores in Northern Ireland.
Mr Martin said that he looked forward to Drinks Inc joining Musgrave’s portfolio, where it would help take the business to ‘the next level of growth’.
Established in 1876, Musgrave is Ireland’s leading food retail, wholesale and foodservice company. In NI, its brands include SuperValu, Centra, Mace, Marketplace, LaRousse Foods, Chipmongers and Frank & Honest.
Drinks Inc owner, Paul Camplisson, described the sale of the company to Musgrave as ‘a fantastic opportunity’:
‘In a relatively short period of time, we have firmly established ourselves as one of the largest independent drinks distributors in the market,’ he added. ‘Musgrave will enable us to provide an enhanced service to our customers and their track record of growing successful customer-focused businesses make this the right move for Drinks Inc.’
Estabished in 2001 and with a turnover of £66m, Drinks Inc is one of the fastest-growing independent drinks distributors on the island of Ireland with a portfolio of more than 1000 products.