Bargain Booze in talks over mega-deal

THE parent company of the Bargain Booze chain is in talks to buy an £800m turnover beer, win and spirits wholesaler.

In what would be a transformational deal for Crewe-based AIM-listed Conviviality Retail, which has annual sales of around £400m,  the group is in talks on a reverse takeover for Matthew Clark (Holdings).

In a statement to the stock market, Conviviality said it is participating in a “managed sale process in respect of Matthew Clark (Holdings)Limited which, if successful, would constitute a Reverse Takeover under the AIM Rules.”

Shares in the company have been suspended.

Matthew Clark is based in Bristol and is co-owned by brewing giant Punch Taverns and Accolade Wines and supplies retailers, as well as pubs and restaurants and hotels.

 Since floating in late 2013, Conviviality has made a number of acquisitions, including the Rhythm & Booze chain and most recently a £6m deal for GT News (Holdings) an leading independent convenience retailer with 37 stores largely in the East Midlands and Yorkshire.

Click here to sign up to receive our new South West business news...
Close