Musgrave has today announced the acquisition of Italicatessen for an undisclosed sum, subject to approval by the Competition and Consumer Protection Commission.
Italicatessen is a leading importer and distributor of premium quality, authentic Italian food and wines directly from Italy. Based in Wicklow, Italicatessen, employing 75 people, was founded in 2002 as a small family run business and has since grown to service over 900 customers. Over the past 20 years Italicatessen has established relationships with the best producers in Italy. Italicatessen also distributes in the UK, based in Brentford, Italicatessen UK employs 12 people. Musgrave foodservice, wholesale and retail customers will have direct access to a wide range of excellent artisan Italian food and wine products from pasta, preserves, cheese, olive oil to fine wines.
The acquisition is part of Musgrave’s wider strategy to grow a world class food and beverage business with particular focus on foodservice and wholesale. Italicatessen will enable Musgrave to meet growing consumer demand for authentic, high-quality fresh and ambient products imported directly from their country of origin.
Commenting on the deal, Noel Keeley, CEO, Musgrave, said: “The acquisition of Italicatessen is an excellent strategic fit for our business which enhances our 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.
We look forward to working with the Italicatessen team and customers who will benefit from the support of Musgrave in terms of supply chain infrastructure and access to an increased product range. This deal represents another important development as part of our strategic commitment to Growing Good Business by creating a sustainable, profitable business that benefits our shareholders, our people, partners and local communities while expanding our position as Ireland’s leading food retail, wholesale and foodservice company.”
Also commenting on the acquisition, Christian Reolon, MD Italicatessen, said: “This is a positive milestone and great opportunity for our company. Musgrave is a family business and Ireland’s leading food retail, wholesale and foodservice 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. 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.”
Italicatessen will continue to operate as a standalone business with the existing management team and staff working within the broader Musgrave wholesale business.