Conviviality has been busy shopping. Less than seven months after buying out drinks supplier Matthew Clarke, the owner of Bargain Booze has conditionally agreed to buy wine wholesaler Bibendum in a deal valued at £60m.
Bibendum, which supplies wine, beer and spirits to some 4,000 restaurants, pubs and hotels across the UK, will expectedly increase Conviviality‘s annual turnover by 23%, with combined annual sales of more than £1.4bn.
“We are pleased to be acquiring Bibendum PLB as the business will not only accelerate our strategy of expanding our wholesaling expertise into new markets and channels, but brings significant expertise to Conviviality in the off-trade wholesale market through the PLB business,” comments CEO of Conviviality Diane Hunter.
“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.”
She added: “By operating a delivered wholesale model we can serve a diverse range of customers and build our wine and spirit volumes further while simultaneously strengthening our retail channel. The acquisition of Bibendum PLB accelerates our aim to satisfy all of our customers who want to consume alcoholic beverages at home or out of home, whatever the occasion, serving customers directly via retail outlets and indirectly through hospitality and foodservice channels.”