Conviviality spends £6m on new stores

UK off-licence group Conviviality Retail, the owner of Bargain Booze, has expanded its portfolio with the acquisition of 37 new stores in a deal worth £6 million.

The majority of the newly acquired GT News convenience stores are in the East Midlands and Yorkshire with bosses stating the move would “drive logistics and marketing efficiencies” for the group. Conviviality plans to rebrand the majority of the stores under its Bargain Booze or Bargain Booze Select Convenience fascias.

Diana Hunter, Conviviality Retail chief executive  said: “The acquisition of 37 stores from GT News is in line with our stated aim to grow our business into areas which are underserved by our brands. Yorkshire and the East Midlands are two such areas and will provide a significant growth opportunity. Customers will get even better value for money across all the brands and ranges that they currently buy as well as the additional benefit of a much stronger range of beers wines and spirits.”

It follows the group’s recent acquisition of Rhythm and Booze in May of last year, which saw the off-licence chain acquire 26 sites in a deal worth £1.7 million.

Last month the UK off-licence group reported “strong” Christmas trading announcing a first half pre-tax profit rise of 46.7%.

Conviviality 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.