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Bibendum announces price hikes in response to ongoing fall in the pound

Published:  18 October, 2016

Bibendum has issued a statement saying it has had to increase prices on certain products due to the unprecedented times caused by fall in the value of the pound

Bibendum, a subsidiary of drinks supplier, Conviviality, has issued a statement saying it has had to increase prices on certain products due to the unprecedented times caused by fall in the value of the pound.

The price increases follow the announcement in recent months by several suppliers that their prices have risen in response to the ongoing devaluation of sterling and higher purchasing costs from Europe and elsewhere. 

"We always have our customers' best interests at heart, yet during the recent unprecedented times, with the fall in value of the pound, we have had to increase prices on certain products," the company said in a statement.

Bibendum interim price hike which comes into effect on November 1st, is the first such price hike from the company following its acquisition by Convivality, the owner of Bargain Booze and Matthew Clark, in May earlier this year.

The statement comes after independent merchants said they have been forced to pass on price hike to customers as a result of suppliers - including Bibendum - issuing one-off price increases. 

Bibendum, however played down the impact of price hikes saying the increase was "moderate" and would not affect the holding prices of hundreds of its wines. "In addition to this being a moderate increase, we are working with our customers to minimise the impact that the increase will have, such as mitigating the holding prices on over 400 lines," said Bibendum.

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