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Bargain Booze Owner’s Revenues Pass £860M

Revenues have jumped to more than £860m at Bargain Booze owner Conviviality following a transformational year that featured the acquisition of wine wholesaler Matthew Clark.

The company has posted revenues of £864.5m for the 53 weeks ending 1 May 2016, up by 137 per cent on a year earlier. Adjusted pre-tax profits climbed by 124 per cent to £21.7m and adjusted EBITDA increased by 135 per cent to £30.2m over the same period.

On 7 October 2015, during the period covered by these results, Conviviality completed the £200m acquisition of wine wholesaler Matthew Clark (Holdings) in a reverse takeover. It also purchased bar and events company Peppermint on 31 December 2015.

Diana Hunter, chief executive of Conviviality, said: “These strong results reflect the hard work of our employees, franchisees and suppliers. Our franchisees in the off-trade and customers in the on-trade remain at the heart of our business as we continue to work together to blend their entrepreneurial skill with the branding, ranging and wholesale expertise of Conviviality. Read More