Ireland's biggest grocery distributor, Musgrave, has announced that it's to acquire the assets of Belfast based drinks distributor, Drinks Inc.

The company will continue to trade as a stand-alone business, Musgrave said in a statement.

Established in 2001, Drinks Inc is one of the largest independent drinks distributors on the island of Ireland with annual turnover of £66 million.

It has a portfolio of over 1,000 products covering the spirits, wines, beer and soft drink categories. 

It's 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.

"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," Chris Martin, Musgrave Chief Executive, said.

"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."