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.


New gin to help raise funds for Doddie Weir’s MND charity

Mon 18th February 2019

English spirits ­producer 45 West Distillers, which produces Burleighs Gin, is working with ­Scottish rugby ­legend Doddie Weir’s chari... Read more.

Absolut creates new bottle label in support of LGBT+ History Month

Mon 18th February 2019

Absolut vodka has taken ink used in hate signs from around the world to create a new limited edition bottle to celebrate LGBT+ History Month... Read more.

All four Majors live on Sky Sports in a spectacular 2019 beginning with the Masters Tournament in April

Mon 18th February 2019

The drama and emotion of all four Majors will come to life for Sky Sports customers this year as the biggest names in golf hunt down the mos... Read more.

William Grant & Sons announce new Chief People Officer

Thu 14th February 2019

William Grant & Sons has appointed Kerry Christie as its Chief People Officer effective June 2019. Kerry will be based in Scotland and w... Read more.

Andy McCue to step down as The Restaurant Group boss

Thu 14th February 2019

The Restaurant Group, whose brands include Frankie & Benny’s, Wagamama and Chiquito, has announced that chief executive Andy McCue... Read more.

Scotch Whisky exports on the up in 2018

Thu 14th February 2019

Official figures from HM Revenue and Customs (HMRC) have revealed a strong year for Scotch Whisky exports in 2018, with global growth by bot... Read more.

Year-on-year revenue growth of over 300% for Scottish craft gin brand McQueen Gin

Wed 13th February 2019

Stirlingshire-based true craft spirit brand McQueen Gin has announced year-on-year revenue growth figures of over 300%. ... Read more.

BrewDog reveals more details of first US bar outside Ohio

Wed 13th February 2019

Scottish brewer BrewDog has revealed more details of the ‘Doghouse’ bar it will open in Indianapolis, which will be its first US... Read more.

Buzzworks Holdings reports another year of growth

Tue 12th February 2019

Buzzworks Holdings has reported an increase in turn over, up 9 per cent from £14.8m to £16.2m, for 2018.... Read more.

Diageo submits plans for flagship Johnnie Walker visitor attraction in Edinburgh

Tue 12th February 2019

Diageo has announced that plans have been formally submitted for the flagship Johnnie Walker visitor centre in Edinburgh. The Edinburgh attr... Read more.

McGinty’s Group set to serve up £500k bar and restaurant in Aberdeen

Mon 11th February 2019

The McGinty’s Group has lodged plans with Aberdeen City Council to transform the former Esslemont and Macintosh (E&Ms) department stor... Read more.

Beer sales in UK on-trade up, says BBPA Beer Barometer

Mon 11th February 2019

Sales of beer in the on trade increased by 0.1% on full year 2017 sales, according to the latest Beer Barometer sales data from the British ... Read more.

Carlsberg reports full-year UK volume down 3%

Thu 7th February 2019

Carlsberg has reported total volume fell 3% in the UK for the year ending 31 December 2018 in a slightly growing beer market. Of its UK perf... Read more.

SIMS AUTOMATICS: CELEBRATING 50 YEARS AT THE TOP OF ITS GAME

Thu 7th February 2019

It’s not every day that you come across a family-run business that’s celebrating 50 years of successfully supporting and supplying the S... Read more.

KINGSBARN DISTILLERY’S SINGLE MALT TAKES FLIGHT

Wed 6th February 2019

A long-held dream to distill fine single malt whisky in the East Neuk of Fife has become a reality for the founders of Kingsbarns Distillery... Read more.

ORO GIN WINS SILVER AT THE WORLD GIN AWARDS 2019

Wed 6th February 2019

Oro Gin, from the Dumfriesshire-based Oro Gin Distilling Co, picked up the silver title in the London Dry Gin (UK) category at the World Gin... Read more.

New rum for Deeside Distillery

Wed 6th February 2019

A North-East distillery has launched an exciting new venture with the creation of the UK’s first single cask cask-strength ... Read more.

Plans to extend historic Melrose pub given the green light

Wed 6th February 2019

It’s always tricky trying to secure planning permission when a pub’s steeped in history but The King’s Arms in Melrose High Street has... Read more.

LADY LIBERTINE OPENS HER DOORS WITHIN THE EDINBURGH GRAND

Tue 5th February 2019

The Edinburgh Grand has added a further art deco inspired bar and dining experience with the launch of Lady Libertine. Lady Libertine is the... Read more.

Elliots to be renamed Vic’s & The Vine following refurbishment

Tue 5th February 2019

Buzzworks Holdings has closed Elliots bar and restaurant in Prestwick for a refurbishment and rebranding that will be unveiled at Easter. It... Read more.