Conviviality to acquire Bibendum
Bargain Booze owner Conviviality has agreed to acquire Bibendum, the wine, spirit and beer distributor and wholesaler, in a deal worth Â£60 million.
The acquisition will increase Conviviality’s group turnover by approximately 23% through combined annual sales of over £1.4 billion.
Conviviality said it will strengthen its skills and capabilities, specifically in customer insights, producer relationships and old world and premium wines. The group also hopes to benefit from Bibendum’s strong presence in London and the South East.
In its financial year ended 31 March 2016, Bibendum is expected to generate unaudited revenue of £270.5 million.
Diana Hunter, chief executive of Conviviality, said: “Bibendum PLB’s wine speciality, particularly in old world and premium wines complements our other businesses and helps us to accelerate our leading position in the independent on-trade market. The team brings significant wine wholesaling expertise and an enviable portfolio of high quality and loyal customers, particularly in London and the South East.“
The move follows Conviviality’s purchase of drinks supplier Matthew Clark last year.
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