Musgrave agrees acquisition of Drinks Inc
Musgrave has announced that it has agreed to acquire the brand and company assets of Drinks Inc, the Belfast-based drinks distributor. Drinks Inc will continue to trade as a stand-alone business
3 December 2019 | 0
Musgrave has announced that it is to acquire the brand and company assets of Northern Ireland drinks distributor Drinks Inc. The business will continue to trade as a stand-alone entity once the deal is complete.
Established in 2001 and with annual turnover of £66 million, Drinks Inc has a portfolio of over 1,000 products in 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 on the announcement, Chris Martin, Musgrave chief executive, said that Drinks Inc is an excellent strategic fit for Musgrave and will strengthen its existing offer to the market. “This acquisition forms part of our overarching Growing Good Business strategy to deliver long term sustainable growth,” he said. “It follows our £28 million investment programme, announced earlier this year, to open 20 additional stores in Northern Ireland and revamp 40 existing stores.
“I look forward to Drinks Inc joining our expanding portfolio of successful brands,” Martin added, “and to supporting the business to bring it to the next level of growth.”
Paul Camplisson, owner of Drinks Inc added that becoming part of Musgrave will enable his business to provide an enhanced service to customers. “Musgrave’s track record of growing successful customer-focussed businesses makes this the right move for Drinks Inc,” he said.