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C&C and AB InBev acquire Matthew Clark and Bibendum

With the collapse of UK wholesaler Conviviality earlier this year, news that Matthew Clark and Bibendum were to be acquired by Magners cider maker C&C Group received many hits from readers.

Completing the purchase on 4 April, C&C, which was provided with financial assistance from the world’s largest brewer, AB InBev, acquired Matthew Clark, Bibendum PLB and subsidiary businesses Catalyst, Peppermint, Elastic and Walker & Wodehouse.

Conviviality troubles began after it issued its first profit warning on 8 March in which it declared that a “material error” in its financial forecasts had meant that its profit would be £5.2 million less than expected.

This was followed by an update on 14 March in which it added that it was facing a £30 million tax bill and had suspended trading in its shares. CEO Diana Hunter later stepped down from the board on 19 March.

Conviviality’s retail division, including Bargain Booze and Wine Rack, were later sold to UK grocery retailer and wholesaler Bestway for £7.25 million.

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