Conviviality Retail looking at Rhythm & Booze shops

CONVIVIALITY Retail, the AIM-listed parent company of the Bargain Booze off licence chain, says it is in talks to buy a number of Rhythm & Booze shops.

In a short statement in response to an article in The Grocer, Crewe-based Conviviality said it was looking at complementary strategic acquisitions, and as such it is in talls with Bibby Retail Services – part of the Liverpool-based mini-conglomerate – in relatiion to buying “a small number of off licences.”

It said: “Conviviality confirms that it is in discussions with Bibby Retail Services Limited, but there is no certainty that any transaction will be concluded. Any transaction, should it occur, 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.”

The Grocer claims Conviviality wants to buy the Rhythm & Booze brand and at least 20 of its 50 shops.

Bibby Retail Services, which also owns the Costcutter convenience stores business, acquired Barnsley-based Rhythm & Booze out of administration in March 2012.

The business has stores in Yorkshire, Humberside, Lincolnshire and Nottinghamshire.