Musgrave To Acquire Drinks Inc

02 Dec 2019 | 12.43 pm

Musgrave To Acquire Drinks Inc

Belfast drinks distributor for over 1,000 products

02 Dec 2019 | 12.43 pm

Musgrave is to acquire the brand and company assets of Drinks Inc, the Belfast-based drinks distributor. Drinks Inc will continue to trade as a standalone business.

Established in 2001 and with annual turnover of £66m, Drinks Inc has a portfolio of over 1,000 products covering the spirits, wines, beer and soft drink categories. It is also the exclusive agent for premium brands and wineries including BrewDog, Dingle Distillery and wine brand Isla Negra.

Drinks Inc booked a net profit of £1.7m in 2018 and had year-end net worth of £12.5m. The business employed 119 people and was joint-owned by Paul and Catherine Camplisson.

Kevin O’Leary has been appointed as the new business director of Drinks Inc. Founder Paul Camplisson will remain on in 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” said Musgrave chief executive Chris Martin (pictured).

“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.”

Commenting on the acquisition, Camplisson said that becoming part of Musgrave was a “fantastic opportunity” for the Drinks Inc business. “Musgrave will enable us to provide an enhanced service to our customers and their track record of growing successful customer-focused businesses makes this the right move for Drinks Inc,” he added.

 

 

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