Musgrave has announced the acquisition of Italicatessen for an undisclosed sum.
The deal is subject to approval by the Competition and Consumer Protection Commission.
Based in Wicklow, Italicatessen imports and distributes authentic Italian food and wine directly from Italy, and it has established relationships with producers therein.
According to the Irish food wholesaler, Musgrave foodservice, wholesale and retail customers will now have direct access to a wide range of artisanal Italian food and wine products, from pasta, preserves, cheese and olive oil to fine wine.
Commenting on the deal, Noel Keeley, CEO of Musgrave, stated, “The acquisition of Italicatessen is an excellent strategic fit for our business, which enhances our market-leading foodservice and retail offer.”
Italicatessen will enable Musgrave to meet growing consumer demand for authentic, high-quality fresh and ambient products imported directly from their countries of origin.
“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,” Keeley added.
Established in 2002, Italicatessen is a family-run business that currently employs 75 people in Ireland.
Italicatessen also distributes in the UK, where it employs 12 people at its Brentford-based operation.
Also commenting on the acquisition, Christian Reolon, MD of Italicatessen, said, “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 stand-alone business, with the existing management team and staff working within the broader Musgrave wholesale business.