Musgrave Group, which operates the SuperValu and Centra retail brands in Ireland, has announced the acquisition of Drinks Inc, a Belfast-based drinks distributor.
Drinks Inc, which is the exclusive agent for premium brands and wineries including BrewDog, Dingle Distillery and Isla Negra in Northern Ireland, reported annual turnover of £66 million (€77.3 million) last year.
Kevin O’Leary has been appointed as the new business director of Drinks Inc, which will continue to operate as a standalone business, Musgrave said in a statement. Paul Camplisson, Drinks Inc's owner, will remain with he business on a consultancy basis.
“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," commented Musgrave chief executive Chris Martin.
"The acquisition forms part of our overarching Growing Good Business strategy to deliver long term sustainable growth and follows a £28 million investment programme to open 20 additional stores and revamp 40 existing stores in Northern Ireland that was announced earlier this year. I look forward to Drinks Inc joining our expanding portfolio of successful brands and to supporting the business to bring it to the next level of growth.”
Echoing his statement, Camplisson added that the Musgrave deal will enable the business 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".
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine.