Wholesale and retail group Musgrave has today announced a deal to buy Italian food and wine importer Italicatessen for an undisclosed sum.
Italicatessen imports and distributes authentic Italian food and wines directly from Italy.
Based in Wicklow, Italicatessen employs 75 people and was founded in 2002 as a small family run business. It has since grown to service over 900 customers.
Musgrave said the deal is part of its wider strategy to grow a world class food and beverage business with particular focus on foodservice and wholesale.
It said that Italicatessen will enable it to meet growing consumer demand for authentic, high-quality fresh and ambient products imported directly from their country of origin.
Noel Keeley, CEO of Musgrave, said today's acquisition is an excellent strategic fit for the business as it enhances its market-leading foodservice and retail offer.
"Whether it's Italian, French, Spanish or Mexican food, consumers now expect the quality and taste to match the experience they have when eating in these countries. Italicatessen brings that authenticity to customers looking for locally sourced Italian products," Mr Keeley said.
Christian Reolon, MD Italicatessen, said today marked a positive milestone and great opportunity for the company.
"Musgrave will open access to the largest wholesale and foodservice distribution network in Ireland. This will enable us to grow, while ensuring the long-term sustainability of our business," Mr Reolon said.
"The acquisition happens at a great time for us given the momentum of the business. It will facilitate greater focus, support and investment in developing the business and our people and building on all that we have achieved in recent years," he added.
Italicatessen will continue to operate as a standalone business with the existing management team and staff working within the broader Musgrave wholesale business.
Today's deal is subject to approval by the Competition and Consumer Protection Commission.
