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.

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Speaking recently, Rosemary Garth, chairwoman of the RoI-based group, warned:

‘The government must do everything in its power to reduce the grave harm that a no-deal Brexit would have on thousands of businesses and more than a hundred thousand jobs.’

The DIGI believes that if Boris Johnston is elected as the new British PM tomorrow – as is widely expected – the drinks and hospitality industries in Ireland will suffer, particularly in rural areas.

Mr Johnson has pledged to take the UK out of the EU with or without a deal by the deadline of October 31.

Pointing out that in the event of a no-deal exit from the EU, the UK and the EU will need to negotiate a separate bilateral trade deal – a process that could take years – the DIGI went on to predict that such a scenario would have ‘disastrous ramifications’ for drinks and hospitality in Ireland.

It has called on the Irish government to reduce alcohol tax by 15 per cent over the next two years to help business cope with rising costs.

Ms Garth said that she believed that the good growth seen in the drinks and hospitality trades in Ireland would be threatened if Boris Johnston took the British PM’s post:

‘His election would greatly increase the chance of a no-deal Brexit which, by extension, would jeopardise the long-term growth prospects of Irish drinks and hospitality businesses that depend on stable British tourism and export markets,’ she added.

‘A large-scale, long-term reduction in visitor numbers from the UK would have dire ‘recession-type’ effects on the drinks and hospitality sector, particularly in rural Ireland and lead to job losses and business closures,’ she added.

Directly and indirectly, the drinks industry in Ireland employs around 90,000 people and wider hospitality employs more than 175,000 people, generating 1.4bn euros in exports each year.

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