Musgrave agrees acquisition of Drinks Inc
Chris Martin, Musgrave Chief Executive
Musgrave has announced that it has agreed to acquire the brand and company assets of Drinks Inc. Drinks Inc will continue to trade as a stand-alone business.
Established in 2001 and with annual turnover of £66 million, Belfast based Drinks Inc is one of the largest and fastest growing independent drinks distributors on the island of Ireland. With a portfolio of over 1,000 products covering the spirits, wines, beer and soft drink categories, Drinks Inc is also the exclusive agent for premium brands and wineries including BrewDog, Dingle Distillery and the UK’s number one wine brand Isla Negra.
Kevin O’Leary has been appointed as the new Business Director of Drinks Inc with Paul Camplisson, Owner of Drinks Inc remaining on a consultancy basis and working closely with Kevin to grow the business.
Commenting about the announcement, Chris Martin, Musgrave Chief Executive, said: “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. 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.”
Paul Camplisson, Owner of Drinks Inc 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.”