Conviviality buys 26 stores in £1.7m deal

6th May, 2014 by Lauren Eads

Conviviality Retail Plc has announced its acquisition of 26 Rhythm and Booze stores in a deal worth £1.7 million.

42857_rhythm-and-boozeConviviality Retail Plc is one of the UK’s largest off-licence chains with 575 franchisee-operated stores which includes Bargain Booze, Bargain Booze Select Convenience and Thorougoods.

This acquisition will add a further 26 Rhythm and Booze stores – a drinks retailer based largely in Yorkshire and the north east of the UK and a subsidiary of Bibby Retail Services Limited – to its portfolio.

Diana Hunter, chief executive officer of Conviviality Retail Plc, said: “This acquisition in entirely in line with our strategy for geographic expansion. The 26 stores provide opportunities for us to extend our reach into Yorkshire, offering growth opportunities for the company and our franchisees.

“The 26 stores provide opportunities to expand our Bargain Booze, Select Convenience and Wine Rack fascias.”

For the year ending 31 December 2013, the 26 Rhythm and Booze stores set to be acquired, generated revenues of £13.68 million and net profits of £0.05 million.

Five of the stores are freehold properties with a combined value of £0.54 million, and the remainder are leasehold.

Conviviality, which funded its acquisition by paying £1.5 million in cash with a further £0.2 million still under consideration, intends to retain all store staff and rebrand the stores with completion planned for 16 May 2014 following a consultation period.

Leave a Reply

Your email address will not be published. Required fields are marked *

Please note that comments are subject to our posting guidelines in accordance with the Defamation Act 2013. Posts containing swear words, discrimination, offensive language and libellous or defamatory comments will not be approved.

Subscribe to our newsletters

New Business Development Manager Nordic

Concha Y Toro
Stockholm, Sweden

Experienced Administrator

The Drinks Business
Central London, UK

Sales Executive (London – Craft Spirits)

Bimber Distillery
London, UK

2 x Buying Assistants

Berry Bros. & Rudd
Battersea and Basingstoke, UK

Temporary Christmas Sales Support - Wines & Spirits

Harrods
Knighsbridge, London, UK

Head of Wholesale

Hispamerchants Ltd
London, UK

Sales Manager

Hispamerchants Ltd
London, UK

The World Bulk Wine Exhibition

Amsterdam,Netherlands
20th Nov 2017

The Drinks Business Green Awards 2017

London,United Kingdom
20th Nov 2017

The Global Spirits Masters Lunch

London,United Kingdom
1st Dec 2017
Click to view more

Green Awards 2017

Deadline : 25th October 2017

The Global Riesling Masters 2017

Deadline : 30th October 2017

Click to view more

Champagne Masters 2017

The only Champagne blind tasting in the UK, the competition will reward the best wines in the following categories:

The Global Rosé Masters 2017

With wines from the palest of pink to almost ruby red, bone dry to almost cloyingly sweet, reductively handled to barrel-aged, as well as gently spritzy to fully sparkling.

Click to view more