Bargain Booze owner Conviviality hails “transformational year” of acquisitions and sales growth

Conviviality Plc, the North West drinks wholesaler that owns the Bargain Booze chain of off-licences, has experienced a “transformational year” of acquisitions, new store openings and triple-figure sales growth.

The 53 weeks ending May 1 saw the company expand its operations with the acquisition of wholesaler Matthew Clark, London-based bar and events business Peppermint and, earlier this month, drinks distributor Bibendum in a deal worth £60m.

Crewe-headquartered Conviviality’s group sales leapt 137%, rising from £364m in its 2014/15 year to £864m at the close of April. Ahead of its full-year results, the firm is also expecting its EBITDA to be slightly ahead of expectations, while its net debt will sit at around £87m.

Conviviality saw further expansion in the year to May on the bricks-and-mortar front, with its retail arm, Conviviality Retail, opening 126 new stores across the UK and closing just 34 in comparison to the 63 closures made the year previous.

As of May 1, the company operated a UK-wide network of 716 stores, of which 364 are owned by multi-site franchisees.

Conviviality’s Wine Rack chain of stores saw like-for-like sales increase 3.2%. Similarly, Matthew Clark, following the Conviviality takeover in October last year, experienced like-for-like sales growth of 4.9%.

Conviviality CEO Diana Hunter said: “We have successfully completed a transformational year for the company, its employees, customers and Franchisees.

“We look forward to a strong set of results reflecting our transition to being the UK’s leading independent alcohol wholesaler, serving consumers through the on-trade and through its Franchise retail estate.”

She continued: “The acquisitions of Matthew Clark, Peppermint and Bibendum PLB Group enable Conviviality to fulfil its aim to satisfy all consumer drinking occasions, enabling it to have unrivalled insight and expertise as the drinks sector’s leading wholesaler and distributor.

“I continue to be encouraged by the company’s achievements and the opportunities we have for the business.”

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