Little Margaret has acquired bed - it's made in Italy... (7)
I believe the answer is:
ricotta
'little margaret has acquired' is the definition.
I can't tell whether this defines the answer.
'bed it's made in italy' is the wordplay.
'bed' becomes 'cot' (cot is a type of bed).
'it's made in' indicates putting letters inside.
'italy' becomes 'rita' (I can't explain this - if you can you should give a lot more credence to this answer).
'cot' put into 'rita' is 'RICOTTA'.
Can you help me to learn more?
(Other definitions for ricotta that I've seen before include "Sheep's milk cheese" , "may be served with biscuits" , "cheese, Italian style" , "Italian 4 across" , "Read the riot act about the cheese" .)