Drinks group C&C has announced that it has agreed to acquire the Gleeson Group for €12.4m.
The company has existing debts of €45.6m, implying a value of €58m.
The Gleeson Group is the largest distributor of packaged long alcohol drinks to the bar trade in Ireland.
It manufactures Tipperary water and Finches soft drinks.
The company also represents a number of beer, wine and spirits brands on an agency basis.
The business generated pre tax earnings of €10.2m for the 12 months to June 2012.
"This acquisition has the potential to transform our existing Irish business through the addition of an extensive distribution network and the creation of an attractive, multi-beverage brand platform," Stephen Glancy, CEO of C&C commented on the acquisition.
C&C shares closed 3.3% higher in Dublin this evening.
