Harpers Wine & Spirit Trade News

Looking ahead after Conviviality's fall

Published: 06 April, 2018

Conviviality breakup likely as £125m fundraiser fails

Published: 28 March, 2018

Conviviality Plc has failed to raise the £125 million needed to recapitalise the business following a tumultuous month which saw three profit warnings, its market value tumble, shares suspended and the departure of CEO Diana Hunter.

Diana Hunter steps down as Conviviality CEO

Published: 19 March, 2018

Conviviality Retail to ‘accelerate growth’ with £25M acquisition of over 100 Central Convenience Stores

Published: 15 December, 2017

Conviviality, the alcohol wholesaler, distributor and high street retailer, is to buy 109 convenience stores from failed Palmer & Harvey (P&H) through its subsidiary Bargain Booze.

Profit more than doubles at Conviviality

Published: 17 July, 2017

The Conviviality steam train shows no sings of stopping if its FY17 results are anything to go by.

Sales almost double at Conviviality

Published: 25 May, 2017

Conviviality, the owner of Bargain Booze, has seen sales nearly double in the past year to pass the £1.5bn mark.

The independent alcohol wholesaler and distributor, which agreed a £60m deal to acquire wine, spirit and beer distributor Bibendum in May last year, said sales were up from £841m to £1.56bn in a trading statement released this morning (52 w/e to 30 April, 2017).

Net debt was £99 million – “comfortably below” Conviviality’s target, it said, adding the positive results were in line with the board’s expectations.

The integration of Bibendum, together with wine wholesaler Matthew Clark which it bought in 2015, was “progressing well”, said chief executive, Diana Hunter.

"Our focus will continue to be on improving the business and ensuring that benefits are realised from our greater scale, as we drive efficiencies for the group and greater service for our customers.”

Conviviality, which re-organised its activities into three business units during the year – Direct, Retail and Trading, reported growth for each, with sales up 6.4%, 6.1% and 1% respectively.

"We have come to the end of an unprecedented year of change and I am pleased to report a strong trading performance for the group and for each of its business units,” said Hunter.