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Your email address will not be published.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

UK Commercial Manager (E-Commerce/Online)

Ian Macleod Distillers
United Kingdom

Regional Sales Manager (Midlands)

Ian Macleod Distillers
Field based - regional coverage Midlands

Marketing Manager

Amathus Drinks Plc
London, UK

Partner Manager - Managed On-Trade

Maverick Drinks
London, UK

Events Sales Executive

The Drinks Business Hong Kong
Hong Kong

Brand Manager

Hatch Mansfield
Ascot, Berkshire

Head of Sales

IWSC
London, UK

Logistic and Fullfilment - Whisky (and wine) administrator

Stilnovisti Ltd
London, United Kingdom // Dufftown, Keith, United Kingdom

Account Manager

Harviestoun Brewery
Field Based, UK

IBWSS China

Shanghai,China
5th Nov 2018

Exploring Beaujolais Wines Across The Years & Appellations

Manchester,United Kingdom
6th Nov 2018

Pink Rosé Festival

Cannes,France
7th Feb 2019
Click to view more

Green Awards 2018

Deadline : 25th October 2018

Rioja Masters 2018

Deadline : 26th October 2018

Click to view more

The Global Sparkling Masters 2018

As with all of the drinks business awards, our judging panel is comprised of Masters of Wine, Master Sommeliers and senior buyers making the competition globally renowned.

Champagne Masters 2018

Enter your wines into the Champagne Masters 2018, the only blind competition dedicated to Champagne in the UK.

Click to view more