Ireland’s Musgrave Group has announced the acquisition of Italicatessen for an undisclosed sum.
Founded in 2002, the firm is an importer and distributor of Italian food and wines directly from Italy. Based in Wicklow, Italicatessen employs 75 people and services over 900 customers. The company also distributes in the UK via an operation in Brentford that employs 12 people.
Italicatessen will continue to operate as a standalone business with the existing management and staff working within Musgrave’s wholesale business. The deal means Musgrave will be able to offer its foodservice, wholesale and retail customers a wide range of Italian food and drink products, including pasta, preserves, cheese, olive oil, and wine.
The operator of the SuperValu and Centra chains stated that acquisition was part of the group’s wider strategy to grow a “world-class” food and beverage business with a particular focus on foodservice and wholesale.
Noel Keeley, CEO of Musgrave, commented: “The acquisition of Italicatessen is an excellent strategic fit for our business which enhances our market-leading foodservice and retail offer. Whether it’s Italian, French, Spanish or Mexican food, consumers now expect the quality and taste to match the experience they have when eating in these countries. Italicatessen brings that authenticity to customers looking for locally sourced Italian products.
“We look forward to working with the Italicatessen team and customers who will benefit from the support of Musgrave in terms of supply chain infrastructure and access to an increased product range.”
Christian Reolon, MD of Italicatessen, added: “Musgrave will open access to the largest wholesale and foodservice distribution network in Ireland. This will enable us to grow, while ensuring the long-term sustainability of our business. The acquisition happens at a great time for us given the momentum of the business. It will facilitate greater focus, support and investment in developing the business and our people and building on all that we have achieved in recent years.”
The deal is subject to approval by the country’s Competition and Consumer Protection Commission.
NAM Implications:
- Access to the Musgrave footprint has to add incremental sales for Italicatessen.
- While Musgrave gains an enhancement of their foodservice and retail offer.
- A classic win-win?
