Conviviality ahead of schedule on Matthew Clark and Bibendum integration

By James Wallin at MCA

- Last updated on GMT

The deal is ahead of schedule
The deal is ahead of schedule
Drinks retailer Conviviality has said it is ahead of schedule on the integration of Matthew Clark and Bibendum.

Its results for the 26 weeks ending 30 October sales in the combined Conviviality Direct were up 5.2% to £515.2m. The number of outlets served in the period increased by 1.5% and sales per outlet grew 3.8%. 

The group said there was still significant scope for driving further sales with analysis the purchases of the 25,000 outlets served by Conviviality Direct showing only 3% of these outlets have duplicated assortments.

Across the group, revenue was up 211% to £782.5m, profit before tax up 285% to £7.4m and adjusted EBITDA grew 252% to £22.9m.

On recent trading, the company said there had been a 6.1% increase in group sales in November and December.

Chief executive Diana Hunter said: “These strong results demonstrate our competitive advantage, the broad customer base we have developed and the robust nature of Conviviality as the UK’s leading drinks wholesaler, distributor and solution provider to our Customers. We have successfully restructured to create three business units Conviviality Direct, Conviviality Retail and Conviviality Trading, each providing our customers and Franchisees with unrivalled range, expert service and advice to meet their customer needs whilst providing our suppliers with unmatched access to routes to market across both the on and off trade.

“The recent acquisitions have resulted in Conviviality being well positioned in its market with a resilient business model that provides unique positioning for its suppliers and customers. We are also pleased to report that the Group continues to trade in line with expectations for the full year”

The group acquired Matthew Clark in October 2015 and Bibendum in May last year, giving it access to over 25,000 restaurants, hotels and pubs.

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