Following rumours last month, Musgrave has confirmed that it has agreed to acquire Belfast-based Drinks Inc., one of the largest and fastest growing independent drinks distributors on the island of Ireland.
Established in 2001, the business now has an annual turnover of £66m and a portfolio of more than 1,000 products covering the spirits, wines, beer and soft drink categories. Drinks Inc is also the exclusive agent for brands including BrewDog, Dingle Distillery and Isla Negra.
Musgrave stated that Drinks Inc will still trade as a stand-alone business with Kevin O’Leary appointed as its new Business Director. Paul Camplisson, the owner of Drinks Inc, will remain employed on consultancy basis, supporting O’Leary to grow the business.
Chris Martin, Musgrave’s Chief Executive, said: “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 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.”
Camplisson 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.”
NAM Implications:
- A natural fit…
- ….and access to a larger, growing wholesale and retail footprint…
- …that should help realise Drinks Inc market potential.
- Watch this space…
