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Exclusive: Matthew Clark's chief executive 'thrilled' over Conviviality's £200m takeover

Published:  17 September, 2015

Matthew Clark's chief executive officer Steve Thomson told harpers.co.uk in an exclusive interview that he is "thrilled" over the acquisition of Matthew Clark by Conviviality Retail which has created "a group with the widest reach in terms of route to market in the drinks industry".

Matthew Clark's chief executive officer, Steve Thomson, told harpers.co.uk in an exclusive interview he is "thrilled" over the acquisition of Matthew Clark by Conviviality Retail which he said has created "a group with the widest reach in terms of route to market in the drinks industry".

"The Matthew Clark vision is to influence every drinking occasion through the creation of a multi-channel beverage business and the addition of the convenience business to the group fits perfectly with this long-term aim," Thomson said.

"We had been talking to Conviviality for some time and are thrilled with the outcome as Matthew Clark becomes an absolutely core part of our new owners' business."

The acquisition creates a business with combined turnover of £1.1 billion and together the newly formed company will have a much broader distribution reach.

To put the deal in perspective, the Bibendum PLB merger last year created a company with turnover of £300 million.

"Both businesses understand wholesaling and in one bold stroke Conviviality has been able create a group with the widest reach in terms of route to market in the drinks industry," said Thomson.

Thomson has been with Matthew Clark for 12 years and has been the chief executive officer for 10. 

He said that Matthew Clark had been put up for sale by its 50/50 owners - pub group Punch Taverns and Accoalde Wines subsidiary Hertford Cellars - as it was "never a core part of our shareholders' strategy", said Thomson.

He added that the deal made sense as Matthew Clark and Conviviality operate in different sectors in the market.

"Combining the experience, knowledge and reach of Matthew Clark in terms of the on-trade with Conviviality's off-trade model creates a unique group with significant market scale," said Thomson.

"Our experience matters in the marketplace, and our objective will be to harness the combined strengths of both businesses to grow our organisations and support our customers.

"Conviviality brings vision, knowledge and investment. There was strong strategic rationale behind Conviviality's decision to want to buy Matthew Clark."

Thomson does not expect any major changes to Matthew Clark following the merger and the business will continue to focus on its core on-trade business.

"We expect the Matthew Clark element of the group to remain focused on continuing the growth it has achieved over the last 10 years and continue to be the leading provider of drinks to the on-trade sector," he added.

"As this is a reverse takeover, Matthew Clark represents the largest part of the combined new business and therefore we do not expect any material changes, it is very much business as usual."

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