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Your email address will not be published.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 *

Subscribe to our newsletters

Job vacancies

Wine Buyer

Adnams
Southwold, UK

Sales Manager - Scotland

Eurowines Ltd
Scotland

Sales Manager - North-West England

Eurowines Ltd
North-West England, UK

Sales Manager - London

Eurowines Ltd
London, UK

Key Account Manager - Grocery

Australian Vintage Limited
London (Croydon), UK

Key Accounts Manager - Impulse

Australian Vintage Limited
London (Croydon), UK

Business Development Manager

Regency Wines Ltd
North Devon & Somerset, UK

Sales Manager - North East England

Eurowines Ltd
Within 15-20 mile radius of York, UK

National Account Manager

Ehrmanns Wines
London, UK

London Account Manager

The Drinks Club
London, UK

London Sales Executive

Gourvid Limited
London and Greater London, GB

Logistics Administrator

Speciality Drinks Ltd
Park Royal, London, UK

Head of Sales - Hush Heath Estate

Hush Heath Estate
Kent/ London, UK

London Sales Executive

VDS UK Ltd
London, UK

Master of Malt Commercial Manager

Master of Malt
London, UK

The Global Merlot Masters 2017

Deadline : 2nd May 2017

db Awards 2017

Deadline : 28th April 2017

The Global Organic Masters 2017

Deadline : 2nd May 2017

The Global Sparkling Masters 2017

Deadline : 12th May 2017

Click to view more

Global Chardonnay Masters 2016

Now in its fourth year, the competition will identify the best Chardonnay from all around the world in every price range.

Rioja Masters 2016

Now in its fifth year, the competition will recognise and reward the finest Riojas on the world stage.

Fortified Masters 2016

Now in its third year, The Fortified Masters will reward the best fortified wines on offer.

The Global Malbec Masters 2016

the drinks business is proud to announce the inaugural Global Malbec Masters 2016.

Click to view more