Conviviality Retail buys 26 Rhythm and Booze stores

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


Share this article



Latest Businesses for Sale

Two Cafes & Food Kiosk
Cornwall, UK Wide

2 x Lucrative Cafes & Food Kiosk Recently Departed from a Franchise in Cornwall. Well-Established and Longstanding. Ideal Coastal Location. Recently Renovated. Fantastic Reputation. Excellent Trade Throughout the Year. Offers invited.

Asking Price: £299,950
Turnover: £500,000

LEASEHOLD


Flooring Specialists
Hertfordshire, UK Wide

Flooring Specialists: Domestic, Contract, Rentals, HMO, Housing Associations, Ecclesiastic, Schools and New Build. Well-Established. Highly reputable with multiple years of repeat business. Over 25 years of experience in the field. Domestic and Comme...

Asking Price: £400,000
Turnover: £850,000

LEASEHOLD


Movable Art Display Walls Design & Manufacture
Wiltshire, UK Wide

Blue Chip Client Base. Full Range of Display Systems. Limited Industry Competitors. Solid Platform for Growth. Offers invited.

Asking Price: Offers Invited
Turnover: £403,159

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
13
 
Sep
 

AFH Financial Group acquires two firms for £7.2 million | BUSINESS SALE

AFH Financial Group, a listed wealth management firm headqua...

 
12
 
Sep
 

Lucid Group completes acquisition of North West-based healthcare consultancy | BUSINESS SALE

Healthcare communication specialists, Lucid Group, has succe...

 
11
 
Sep
 

Controversial green energy firm goes bust and forced to appoint administrators | ADMINISTRATION

A small energy supplier providing green energy to 29,000 hou...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources