C&C Group new owners of Matthew Clark and Bibendum

April 9th, 2018 | Posted in: News

C&C Group PLC bought Matthew Clark (Holdings) Ltd and Bibendum PLB from administrators PwC earlier this month. The deal saw the group pick up the two wholesalers for 1p having agreed to pay back debt of around £100m, facilitated by a loan from AB InBev. Conviviality has said that all trade creditors of its Conviviality Direct business – of which Matthew Clark and Bibendum is a part – would be “paid in full” as a result of the deal with C&C. The pre-pack deal also included Catalyst, Peppermint, Elastic and Walker & Wodehouse.

The move comes following the news that Conviviality had failed to secure additional funding of £125m that was needed to pay HMRC, suppliers and provide working capital.

Conviviality bought Bibendum for £60m in May 2016 and prior to that had paid around £400m for Matthew Clark which employs 140 people in Scotland.

Matthew Clark customer Iain Pert of PG Taverns told DRAM, “I’m delighted that someone has bought Matthew Clark and people are keeping their jobs. I haven’t dealt with C&C before but I don’t think about buying wine from Tennent’s. So I think it’s good move for them too. Hopefully normal service will resume as soon as possible.”

Certainly the move brings a new dynamic to the wholesale market in Scotland. Ian Cumming, Commercial Director for Inverarity Morton said, “The trade has changed a lot over the years, and this is certainly going to be a big change. As far as we are concerned we will keep doing what we do well and strive to continually improve our offering. I’ve no doubt this will bring opportunities for us as well as some obvious threats. We’re family run since 1945 and we have always prided ourselves on providing a quality service and unparalleled range, and we will continue to concentrate on that.”

So what now for licensees who trade with Matthew Clark? In the short term business should return almost to normal. A spokesman for Molson Coors, who currently use Matthew Clark as a route-to-market in Scotland said, “We are working with the new owners of Matthew Clark directly and are focused on making sure that the availability of our brands and service to our joint customers is the first priority. We will be in a position to update more over the course of the next few weeks.”

Licensees that have retro deals due to pay out in May will have to wait and see if C&C honours the commitment,. Those that have outstanding debts owed to Matthew Clark will now owe that money to the administrators.

The next six months will certainly be interesting as C&C re-organise and integrate the Matthew Clark and Bibendum operations with its own. It was partly the failure of Conviviality to integrate its businesses smoothly that led to its cash crisis.

Stephen Glancey (pictured) wrote to all employees following the deal he said, “Matthew Clark and Bibendum are also fundamentally strong businesses and under proper stewardship we will have a great future together.” And in a nice touch he went on to say, “…as a thank you for your efforts over the last few weeks the company will be distributing £40 vouchers for you and your family to enjoy at any casual dining Group restaurant.”

Another deal done this month has been the sale of Accolade, one of Australia’s top wine producers and owner of the Hardys and Banrock Station labels, by CHAMP Private Equity to the Carlyle Group. Coincidentally it was Champ that sold Matthew Clark to Conviviality.


WORLD’S BIGGEST BARTENDING COMPETITION REVEALS GLASGOW AS LOCATION FOR 2019 GLOBAL FINALS

Tue 11th December 2018

The very brightest and best of the drinks community will next September descend on Glasgow to see the Diageo Reserve World Class Bartender o... Read more.

EVERY DOG HAS ITS DAY

Wed 5th December 2018

Quiet Man Taverns, aka brothers Daniel and Finbarr McNally, has taken over The Dogs restaurant in Edinburgh and renamed it The Perch.... Read more.

Design Feature: Jacques

Wed 5th December 2018

Brel’s wee brother Jacques is the new kid on the block in Finnieston. Owner Oli Norman’s latest offering to the Glasgow bar world (he al... Read more.

MSP Letter

Wed 5th December 2018

Dear xxxx As my local MSP, I’m writing to make you aware of the crippling rates bills that myself and others in the hospitality indust... Read more.

It’s time to rattle your local MSP about rates

Wed 5th December 2018

Life sucks. But that doesn’t mean that you need to suck it up when you’re getting a raw deal? Like the amount licensees are payi... Read more.

Design Feature: The Bell Jar

Wed 5th December 2018

The Bell Jar is a novel by Sylvia Plath. It’s also the name of a new bar on Glasgow’s Dixon Avenue, on the city’s south side. It’s t... Read more.

Design Feature: The Old Schoolhouse

Wed 5th December 2018

Belhaven Pubs debuted the refurbished Old Schoolhouse on Glasgow’s Woodlands Road last month and in the process of researching this featur... Read more.

Key to the Loch: licensee interview with Sandy Fraser

Wed 5th December 2018

Gabriel Oak is a character in Thomas Hardy’s Far From the Madding Crowd. As the name suggests, he’s the sturdy, reliable character at th... Read more.

TURNING UP THE HEAT IN THE KITCHIN

Wed 5th December 2018

Michelin-starred chef Tom Kitchin, wife Michaela and business partner Dominic Jack of Castle Terrace are now the proud owners of a brand new... Read more.

Greene King profits up

Mon 3rd December 2018

Belhaven owners Greene King has reported £1,051 million in revenues in the last six months, up 1.9% on the previous half, after a strong sa... Read more.

ENERGY COMPANIES ‘HOLD MILLIONS’ IN UK HOSPITALITY BUSINESS’ CASH

Thu 29th November 2018

Energy companies are holding more than £24 million belonging to Britain’s hospitality businesses. That’s according to an independent st... Read more.

Scottish government plans to ban alcohol advertising before 9pm

Wed 28th November 2018

The  Scottish government plans to curb alcohol abuse by banning drink adverts on TV before the 9pm watershed, while drinks manufacturers wi... Read more.

BUZZWORKS WHET CHILDREN’S APPETITE FOR GOOD FOOD AND HOSPITALITY

Tue 27th November 2018

One of Scotland’s leading hospitality groups, Buzzworks Holdings, welcomed school children from Glenburn Primary this week, to its Bakehou... Read more.

Restaurants could face curb on portion size and calorie count

Thu 22nd November 2018

Food Standards Scotland (FSS) has launched a consultation on limiting portion sizes, maximum calorie limits and calorie labelling. They are ... Read more.

Brora Distillery set to re-open after 35 years

Wed 21st November 2018

Brora distillery, which last operated in 1983, is set to reopen and back in production by 2020.  The copper pot stills have been transport... Read more.

Edinburgh and Glasgow rank highly in average expenditure on a night out findings

Tue 20th November 2018

According to the study by money website thinkmoney, Brit spends £44.88 on each night out, with Edinburgh (£50.40) and Glasgow (£49.23) ... Read more.

Targeted help needed to tackle the heaviest drinkers in the UK says alcohol watchdog

Mon 19th November 2018

Analysis of drinking habits across England and Scotland ( it's Alcohol Awareness Week 19th November 2018)  shows that the majority of peop... Read more.

Flat sales in managed pubs and restaurants

Mon 19th November 2018

Britain's managed pub and restaurant groups saw their collective like-for-like sales grow just 0.2 per cent in October with pubs and bars ... Read more.

Design feature: La Vita Spuntini

Thu 15th November 2018

Walk into the La Vita Group's new £800k Glasgow restaurant, La Vita Spuntini Gordon Street, and what looks like a cherry blossom tree recre... Read more.

Swede Talking: Interview with Janne Johansson

Thu 15th November 2018

Janne Johansson has been a Gulf war hostage, slept out under the stars in Glasgow’s George Square and worked in more countries than I’ve... Read more.