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Conviviality Retail completes Matthew Clark deal

Wed, 07th Oct 2015 14:39

(ShareCast News) - Off licence and convenience stores owner Conviviality PLC confirmed it has completed the acquisition of Punch Tavern's 50% stake in drinks supplier Matthew Clark for a combined £200m.The London-listed company said the deal for Matthew Clark, a 50:50 joint venture between Punch Tavern and Accolade Wines-owned Hertford Cellars, received its shareholders approval on 1 October.Conviviality, which announced it has changed its name to Conviviality Retail, said it expects the acquisition to be earnings within the first 12 months of ownership, adding it pay £100.7m to Punch with the remaining balance being paid for the other 50% stake held by Hertford Cellars.Punch Taverns said it expects to make approximately £98.7m in net cash proceeds, which will improve the company's "financial flexibility to pursue its strategic objectives", adding it has agreed to enter a 10 year non-exclusive drinks supply contract with Matthew Clark Wholesale.Conviviality shares were up 0.13% to 184.74p at 1439 BST on Wednesday.
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4 Apr 2018 15:25

C&C Group Finalises Takeover Of Conviviality Businesses

LONDON (Alliance News) - Irish drinks firm C&C Group PLC said Wednesday it has completed the purchase of Matthew Clark (Holdings) Ltd and Bibendum PLB (Topco) Ltd from it

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4 Apr 2018 14:22

Ex-Conviviality CEO Hunter Leaves Downing Strategic Non-Exec Role

LONDON (Alliance News) - Downing Strategic Micro-Cap Investment Trust PLC said on Wednesday Non-Executive Director Diana Hunter, former chief executive of Conviviality PLC, in

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4 Apr 2018 10:52

UPDATE: Conviviality Confirms Matthew Clark Sale Talks With C&C Group

LONDON (Alliance News) - Alcohol distributor Conviviality PLC on Wednesday confirmed that it is in talks with C&C Group PLC over sale of unit Matthew Clark company also it

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29 Mar 2018 09:53

Conviviality To Bring In Administrators After Failing To Secure Funds

LONDON (Alliance News) - Conviviality PLC on Thursday said it is to appoint administrators within 10 business days, a day after failing to secure GBP125.0 it needed to

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28 Mar 2018 18:08

Conviviality Fails To Raise GBP125 Million Needed To Recapitalise

LONDON (Alliance News) - Troubled alcoholic drinks wholesaler Conviviality PLC said on Wednesday it has failed to raised the full GBP125.0 million needed to the

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21 Mar 2018 18:30

Conviviality To Raise GBP125 Million, Again Lowers Earnings Estimates (ALLISS)

LONDON (Alliance News) - Conviviality PLC late Wednesday lowered its earnings expectations for a second time and said that it intends to raise GBP125 million it

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19 Mar 2018 12:58

Conviviality Boss Steps Aside Amid Cash Call For Surprise Tax Bill

LONDON (Alliance News) - Conviviality PLC said Monday that Chief Executive Officer Diana Hunter has stepped down from the troubled alcohol wholesaler as it continues to deal -

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16 Mar 2018 11:36

Conviviality Considers Equity Raise To Fund GBP30 Million Tax Bill (ALLISS)

LONDON (Alliance News) - Conviviality PLC said Friday it was considering an equity fundraise to help fund its GBP30 million tax bill overlooked after an as it a

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14 Mar 2018 17:30

UPDATE: Conviviality Cancels Interim Dividend To Resolve Funding Issue

LONDON (Alliance News) - Conviviality PLC late Wednesday said that it will cancel its interim dividend to resolve its short term funding requirements.The company said a

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14 Mar 2018 10:50

Conviviality Suspends Shares As Seeks Possible Funding To Pay Tax Bill

LONDON (Alliance News) - Shares in Conviviality PLC were suspended from trading Wednesday as it considers its funding requirements in order to pay an unexpected tax bill which

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9 Mar 2018 14:13

DIRECTOR DEALINGS: Conviviality Chief Financial Officer Buys Shares

LONDON (Alliance News) - Alcohol distributor Conviviality PLC said that Chief Financial Officer Mark Moran bought shares in company in transaction on Friday.Moran at at

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9 Mar 2018 12:41

DIRECTOR DEALINGS: Conviviality Chief Executive Officer Buys Shares

LONDON (Alliance News) - Conviviality PLC said that Chief Executive Officer Diana Hunter bought shares in the alcohol distributor on Friday.Hunter purchased 44,176 at

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9 Mar 2018 10:40

WINNERS & LOSERS SUMMARY: RM2 Jumps As It Sees Positive 2019 Earnings

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Friday.----------FTSE 100 - WINNERS----------Anglo American, up the

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8 Mar 2018 15:37

Conviviality Shares Fall As Earnings Set To Be Below Expectations

LONDON (Alliance News) - Shares fell in Conviviality PLC on Thursday as it said it expects earnings for its current year to be below market expectations.Shares in the a

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3 Feb 2017 16:01

DIRECTOR DEALINGS: Conviviality Chairman Buys 10,000 Shares

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