3 May 2016 07:04
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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.
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(ShareCast News) - With the possibility that regulator Ofcom may have to separate BT and Openreach, The Telegraph's Questor is advising investors to 'hold' in the meantime. It comes after the FTSE 100 company announced on Monday that third quarter revenues have risen 3%, leaving the company's year-t
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Conviviality posts solid interims, sees extra benefits from acquisition
(ShareCast News) - Half-year results from off-licence group Conviviality showed solid underlying growth in the retail business and plenty of encouraging signs from recently acquired wholesaler Matthew Clark. Group sales of £252m in the 27 weeks to 1 November were a 38% improvement on the equivalent
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8 Sep 2015 09:19
Conviviality Retail jumps on Matthew Clark acquisition
(ShareCast News) - Shares in Conviviality Retail jumped over 20% early on Tuesday, after the off-licence and convenience store chain announced a deal to acquire drinks supplier Matthew Clark (Holdings) for £200m. Conviviality said it expects the deal to be concluded early next month, adding it will
Read more13 Jul 2015 10:44
Conviviality Retail serves final results as aperitif for Matthew Clark deal
(ShareCast News) - Conviviality Retail, owner of the Bargain Booze chain of off-licence shops, posted final results showing small rises in revenue and profits, though the company's shares remain suspended as it attempts to engineer a reverse takeover of the larger Matthew Clark wine wholesaling busi
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