Tue, 01 Nov 2016 | BUSINESS NEWS
Conviviality PLC, the independent drinks wholesaling group which operates the Bargain Booze chain, has seen turnover jump by 211 per cent thanks to a hat-trick of acquisitions over the past 12 months.
The firm, established in 1981, said group turnover for the six months to October 30 was £783 million, compared to £252 million in the same period the previous year. The figure includes revenues from Matthew Clark, Peppermint and Bibendum Group, all of which Conviviality acquired between October 2015 and May 2016.
In a trading update Conviviality said the business will now be split into three units: its wholesale business Conviviality Direct, supplying 23,000 hospitality outlets; Conviviality Retail, its franchised off-licence and convenience chain; and Conviviality Trading, its brand and wine agency which serves festivals and events.
In the six months to 30 October, Conviviality Direct generated sales of £515 million, Conviviality Retail generated £189 million and Conviviality Trading £79 million.
Conviviality's chief executive officer, Diana Hunter, said: “I am pleased that the Group has delivered this strong performance across all divisions during such a transformational period.
“This further demonstrates the teamwork and dedication of all of our people in maintaining excellent levels of service to their customers.
“The organic growth in each business unit demonstrates that existing and new customers are increasingly recognising Conviviality as the leading solution provider and distributor to the UK drinks market."
Conviviality was founded as Bargain Booze before rapidly growing its franchise model in the north-west. In 2006, private equity group ECI backed a leveraged management buy-out and supported the company’s expansion into the convenience market. The firm was renamed Conviviality Retail and floated on the London Stock Exchange in July 2013.
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