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Bargain Booze up for sale – report
Bargain Booze, Britain’s leading off-licence chain, has reportedly been put up for sale for £90 million.
The Sunday Times said at the weekend that the private equity owner of Bargain Booze, ECI Partners, has appointed KPMG to examine strategic options for the future of the business, including the possibility of a sale.
The newspaper refused to disclose its source and nobody at ECI Partners was available for comment when the drinks business requested confirmation of KPMG’s appointment.
ECI Partners acquired control of Bargain Booze in 2006 with a £64m secondary buyout from BWG.
The group now controls 640 stores, the majority of which are run by franchisees in the northern parts of England.
Despite a tough economic climate that has seen many of its rival operators – including Threshers and Unwins – go to the wall, Bargain Booze has enjoyed a successful time over the past few years thanks to its discount sales strategy, which has allowed it to compete with supermarkets offering cut-price alcohol.
Bargain Booze Holdings Ltd’s latest financial results to 30 April 2010 showed pre-tax profits of £4.3m, up from £1m in 2009, from sales of £371m, up from £357m in 2009).
Alan Lodge, 14.02.2011