Breaking: Matthew Clark and Bibendum acquisition completed

Further to the news earlier today that C&C Group and AB InBev were planning to acquire Matthew Clark, Bibendum and their other subsidiaries from the ailing Conviviality, a statement sent out on behalf of the C&C Group states that the acquisition has now been completed.

Bibendum’s old Primrose Hill office

The statement reads: “Further to the announcement this morning that C&C was in advanced discussions to acquire Matthew Clark (Holdings) Limited and Bibendum PLB (Topco) Limited (“Matthew Clark Bibendum”), C&C confirms that the acquisition has now [been] completed in accordance with the terms set out in this morning’s announcement.

“Accordingly, C&C now owns 100% of the issued share capital of Matthew Clark Bibendum”.

Earlier today, C&C released a statement, that was later confirmed by Conviviality, which stated that together with AB InBev, it was planning to acquire the “entire issued share capital of Matthew Clark (Holdings) Limited and Bibendum PLB (Topco) Limited and their subsidiary businesses Catalyst, Peppermint, Elastic and Walker & Wodehouse (together ‘Matthew Clark Bibendum’)”.

The statement continued: “Consideration for the shares will be a nominal sum, and C&C will provide sufficient funds to support the on-going working capital and other cash requirements of the business. In addition, AB InBev will provide additional financial support to the transaction. C&C’s investment will be funded from existing C&C facilities”.

This news means that drinks wholesaler Conviviality has now appointed administrators, after it filed its intention to do so on 29 March within 10 business days. 

Conviviality has not yet stated who its administrators are, or confirmed the appointment, but it has enlisted the services of PricewaterhouseCoopers (PwC) who have been engaging with stakeholders and undertaking a review of the business.

For further updates and reaction from the industry, stay tuned to the drinks business. 

One Response to “Breaking: Matthew Clark and Bibendum acquisition completed”

  1. Max says:

    misleading as their bonded warehouses were still frozen by HMRC as of 3pm today. No deliveries into any depot from their bonded warehouses tomorrow Thursday. Customers stranded.

Leave a Reply

Your email address will not be published.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

Subscribe to our newsletters

Sales Manager

The Drinks Business
London, UK

Account Manager

Justerini & Brooks
Edinburgh, UK

Senior Partner Manager - eCommerce

Maverick Drinks
London, UK

Buyer

Liberty Wines
London, UK

HR Co-ordinator

Liberty Wines
London, UK

Director of Sales

Gulf Brands International
Bahrain

Head of Trade Marketing

Lanson International UK Ltd
London W1

Customer Development Manager

Love Drinks
London, UK

Junior Brand Manager x2

Enotria&Coe
London, UK

Assistant Brand Manager

Swallow Associates Ltd
Kings Langley, UK

Champagne Masterclass

London,United Kingdom
10th Sep 2018

THE GREATEST ITALIAN SPARKLING WINES TASTING

London,United Kingdom
10th Sep 2018

Cape Wine 2018

Cape Town,South Africa
12th Sep 2018
Click to view more

The Global Beer Competition

Deadline : 22nd August 2018

The Global Malbec Masters 2018

Deadline : 1st September 2018

Click to view more

Cabernet Sauvignon Masters 2018

the drinks business is proud to announce the fifth year of its Global Cabernet Sauvignon Masters

The Global Pinot Noir Masters 2018

the drinks business is proud to announce the fourth year of the Global Pinot Noir Masters, the most extensive competition in the Global Masters series.

Click to view more