Tue, 06 May 2014 | DIVISION SALE
Conviviality Retail is to purchase 26 Rhythm and Booze stores from Bibby Retail Services – half of the 52-store estate - in a deal worth £1.7 million.
Conviviality was advised by Zeus Corporate Finance in Manchester, and will put down £1.5 million initially with a deferred payment of £200,000.
Last week the parent company to Bargain Booze, Conviviality Retail, said it was in discussions to buy up some of the assets of the off license chain located in Yorkshire and the North East.
The buyer said the employees are to be kept on, while the shops will be rebranded and later incorporated into a franchise model.
The shops racked up sales of £13.68 million and net profits of £50,000 for the year to December 2013 for its wine, beer, spirits and other alcoholic and non-alcoholic drinks. Most of the stores are leasehold, with five being freehold with the combined value of £540,000.
Once rebranded, Conviviality is optimistic that the shops will grow in profitability and will also stand to benefit from the group’s buying power. Geographic expansion is the company’s goal for the purchase.
Chief executive Diana Hunter said: “The 26 stores provide opportunities for us to extend our reach into Yorkshire, offering growth opportunities for the Company and our franchisees. The 26 stores provide opportunities to expand our Bargain Booze, Select Convenience and Wine Rack fascias.”
______________________________________________________________________
Related information:
Business acquisition funding
Businesses for sale
Metal Polishing Supplies, a highly desirable ‘Run from Home’ opportunity established by our client in May 2008. The highly profitable business is now being offered for sale due to genuine health reasons and we strongly advise early enquiries to avoid...
The business is run and managed by our client, with the help of 11 full time members of staff, 6 being qualified butchers. The business is being sold as a Freehold opportunity with 2 x 1-bedroom flats above the premises, both of which are currently l...
FREEHOLD
The business runs as a vehicle repair garage offering a range of services. The garage offer classes 1, 2, 4, 5 and 7 up to 3.5t light commercial MOT’s. Much trade is from garages that don’t have MOT bays themselves. The garage also offers repairs for...
LEASEHOLD
|
12
|
|
Nov
|
MBO at Gloucestershire bricklayers | MBO/MBI
Gloucestershire building services firm Cavendish Park Brickl...
|
07
|
|
Nov
|
Successful MBO at Homefair Blinds | MBO/MBI
Homefair Blinds has been acquired in an MBO led by a trio of...
|
06
|
|
Nov
|
SKS completes four acquisitions | BUSINESS SALE
SKS Business Services has announced the acquisition of four ...
Sign up to receive our acquisition alert emails to get your FREE guide
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources