Conviviality has bought wine distributor and wholesaler Bibendum in a deal thought to be worth £60m.
The acquisition means that Conviviality now operates in every part of the licensed trade, both on-trade and off, and in the multiple and independent retail sectors.
Bibendum PLB was formed in 2014 when Bibendum Wine Ltd merged with the PLB Group. It has five distinct trading companies each focused on a different market sector: Bibendum (on trade), PLB (multiple retail), Walker & Wodehouse (independent retail & wholesale), Instil Drinks Co (spirits and beer) and The Wondering Wine Company (events).
Diana Hunter, CEO of Conviviality Plc, said: “The acquisition of Bibendum PLB accelerates our aim to satisfy all of our customers who want to consume alcoholic beverages at home or out of home, whatever the occasion, serving customers directly via retail outlets and indirectly through hospitality and foodservice channels. Bibendum PLB’s wine speciality, particularly in old world and premium wines complements our other businesses and helps us to accelerate our leading position in the independent on-trade market.”
All five trading companies of Bibendum will continue to operate as normal within Conviviality and it remains business as usual under the new ownership. Bibendum PLB’s leadership team, including CEO Michael Saunders, remains in place.