Bargain Booze owner, Conviviality Retail has confirmed that it is in discussions with Matthew Clark, the UK’s largest drinks wholesaler, with regards to a potential takeover. Reports indicate that the sale price could be around £200m.
Matthew Clark's most recent accounts, for the year to 28 February, show pre-tax profits of £17m on a turnover ot £811.1m. The wholesaler is co-owned by Hertford Cellars, a subsidiary of Accolade Wines and Punch Taverns.
Conviviality Retail is the UK’s largest franchised off-licence and convenience store chain, with 575 franchisee-operated stores, but taking over Matthew Clark would move it into pub supply.
Matthew Clark supplies over 4,000 drink products to the on-trade, including wine, spirits, beer, cider and soft drinks, and has been in the booze business since 1810.