UK alcohol wholesaler and Bargain Booze-owner Conviviality Plc has reported that it almost doubled group sales in the 52 weeks to 30 April 2017.
Group sales for the financial year were £1.56bn up from £841m for 2016. The news follows last year’s transformation of the business from a franchised off-licence business to the UK’s 'leading' wholesaler and distributor.
The £60m acquisition of Bibendum PLB Group in May 2016 followed a flurry of acquisitions which also includes the £200m purchase of Matthew Clark in October 2015, and London-based bar and events company Peppermint Bars in December 2015.
The company said the integration of both Matthew Clark and Bibendum PLB Group is progressing well with synergy plans on track.
The company has since been split into three divisions; Conviviality Direct (sales up 6.4%), Conviviality Retail (sales up 6.1%) and Conviviality Trading (sales up 1%).
CEO Diana Hunter, said: '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. It is encouraging to see our customers and suppliers benefiting from the skills and the expertise of the enlarged Group, its scale and reach and its positioning as the UK’s leading drinks wholesaler and distributor.'
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