Conviviality Retail confirms 'small' acquisition talks

Off-licence franchise group Conviviality Retail has confirmed it is in talks to acquire several stores from a rival.The AIM-listed company, which floated in July last year, issued a statement in response to media speculation in the trade press about a purchase of a "small number" of off-licences.Conviviality confirmed it was in discussions with Bibby Retail Services, owner of the 'Rhythm & Booze' chain of off-licences.It stressed that there was "no certainty that any transaction will be concluded" and if it was the deal would be funded through existing resources. "Conviviality continues to look for value-enhancing investments and to manage our existing portfolio in order to maximise value for all our shareholders," it said.Shares in the company were up 0.3% to 166.5p at 14:50 on Thursday. OH