2 Feb 2017 16:07
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Conviviality Retail Information
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Don't have an account? Click here to register.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.
More News
30 Jan 2017 07:46
Conviviality makes dividend a double as acquisitions put fizz in profits
(ShareCast News) - Alcoholic drinks retailer and wholesaler Conviviality doubled its interim dividend after after its acquisitions last year more than tripled first-half sales and almost quadrupled profits. As the integration continued of wholesalers Matthew Clark, acquired in October 2015, and Bibe
Read more23 Jan 2017 16:05
1 Nov 2016 11:28
Conviviality's revenues rise as it performs in line with expectations
(ShareCast News) - Food and drink wholesaler Conviviality revenues increased as it said it is performing in line with market expectations for the year. In an update for the 26 weeks to 30 October, total revenues were 211% ahead of last year to £783m, which includes revenues from the acquisitions of
Read more1 Aug 2016 11:40
David Robinson jumps to Conviviality from Argos
(ShareCast News) - Independent alcohol wholesaler Conviviality announced on Monday the appointment of David Robinson to the board as managing director of Conviviality Retail with immediate effect. The AIM-traded firm, which operates the Bargain Booze and Wine Rack brands, said Robinson joined the gr
Read more18 Jul 2016 10:15
Conviviality Retail toasts full year growth and new resilience
(ShareCast News) - Bargain Booze operator Conviviality Retail doubled annual earnings and cash flow and says it is a "stronger and more resilient business able to thrive in uncertain economic times". Revenues in the year to 1 May of £864.5m were 137% higher than the prior year thanks in part to the
Read more11 Jul 2016 15:06
20 May 2016 11:53
Conviviality sees annual EBITDA ahead of market views
(ShareCast News) - Conviviality sees its full-year EBITDA coming in marginally ahead of market expectations as the company confirmed sales up 137% to about £864m in the 53 weeks to 1 May. Wholesale sales were in line with the prior year and like-for-like retail (LFL) sales generated by its franchise
Read more3 May 2016 15:42
Conviviality buys Bibendum PLB for £60m
(ShareCast News) - UK alcohol wholesaler Conviviality has conditionally agreed to buy Bibendum PLB for £60m. Conviviality said the acquisition of Bibendum - a distributor and wholesaler of wine, spirit and beer to the UK on-trade and off-trade markets - will be funded through the placement of share
Read more