28 January 2019
McCann FitzGerald advises Pallas Foods on its acquisition of Specialist Wine, Spirits and Craft Beer Distributor, Classic Drinks
McCann FitzGerald has advised Pallas Foods, Ireland’s leading food service distributor and a wholly owned subsidiary of Sysco Corporation, on its acquisition of specialist wine, spirits and craft beer distributor Classic Drinks.
Founded in 2004, Classic Drinks is a leading importer of specialist wines to Ireland and carries a portfolio of over 1,000 spirit brands. Based in Cork, Ireland, Classic Drinks generated consolidated sales of €42 million in the year to 30 June 2018 and employs 47 people. The acquisition, which is expected to complete later this year (subject to receipt of necessary approvals), is expected to significantly improve Pallas Foods’ alcoholic beverage offering throughout Ireland, and further strengthen its position in the foodservice market.
For further information on this deal please see here.