SuperValu owner Musgrave has acquired Belfast-based Drinks Inc for an undisclosed sum.

Established in 2001 and with annual turnover of £66 million (€77.3 million), the company is a drinks distributor with a portfolio of more than 1,000 products.

Drinks Inc will continue to trade as a standalone business, Musgrave said, with its former owner Paul Camplisson being employed on a consultancy basis with the company.

"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," said chief executive Chris Martin.

The acquisition follows on from a £28 million investment programme announced by Musgrave NI earlier this year under which it intends to open 20 additional stores and revamp 40 existing stores in the North.