Conviviality raises glass after doubling sales to £1.56bn

Bargain Booze collapse

Crewe-based Conviviality, owner of Bargain Booze and Wine Rack, has almost doubled its sales to £1.56bn.

The company said it traded well in the 52 weeks to April 30 and said its net debt of £99m was comfortably below target.

During the year, the transformation of Conviviality from its foundations as a franchised off licence business into a drinks wholesaler and distributor has been further underpinned with the acquisition of Bibendum PLB Group on the May 20, 2016.

The integration of both Matthew Clark and Bibendum PLB Group is progressing well and the plan to deliver the stated synergies remains on track, Conviviality said.

Chief executive Diana Hunter said: “We have come to the end of an unprecedented year of change and I am pleased to report a strong trading performance for the Group and for each of its business units.

“It is encouraging to see our customers and suppliers benefiting from the skills and the expertise of the enlarged Group, its scale and reach and its positioning as the UK’s leading drinks wholesaler and distributor.

“We have made great progress on the integration of Matthew Clark and the acquisition and integration of Bibendum PLB Group. Our focus will continue to be on improving the business and ensuring that benefits are realised from our greater scale, as we drive efficiencies for the Group and greater service for our customers.”

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