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Conviviality sales soar 137% for the year

Published:  20 May, 2016

Following the acquisition of Matthew Clark on 7 October 2015, Convivialty saw sales soar 137% to approximately £864 million for the 53 weeks ending on 1 May 2016.

The final results for the year will be released in July and look to exceed market expectations.

It has been a big year for the Convivially retail following the acquisitions of both Matthew Clark in October and Bibendum PLB Group this month.

Diana Hunter, the chief executive officer of Conviviality Retail, said: "We have successfully completed a transformational year for the Company, its employees, customers and Franchisees."

The following the two massive acquisitions, Convivialty is now a dominate player in the market. "The acquisitions of Matthew Clark, Peppermint and Bibendum PLB Group enable Conviviality to fulfil its aim to satisfy all consumer drinking occasions, enabling it to have unrivalled insight and expertise as the drinks sector's leading wholesaler and distributor," said Hunter.

Sales for Matthew Clark are up 4.9% compared to the year before and the number outlets that the supplier works with increased by 2.9% since the reverse takeover.

Throughout the fiscal year of trading the company opened an additional 126 new stores, while closing 34, bring the total number of stores to 716. Conviviality Retail added an additional 38 new franchisees and multi-site franchisees increased 42% to 364. 

Wine Rack's like for like sales increased 3.2% and wholesale sales for franchise stores also increased, up 1.3% for the year.

The company announced on 1 May that it would be acquiring Bibendum PLB for £60 million. The resolution was passed at yesterday's general meeting. The deal is therefore expected to complete the acquisition of Bibendum PLB today, 20 May 2016.