Conviviality Retail targets Matthew Clark acquisition
UK off-licence group Conviviality Retail is in talks to take over distributor Matthew Clark.
Conviviality, which owns Bargain Booze and Wine Rack, said today it has suspended trading in its shares until discussions with Matthew Clark are completed. The confirmation follows media speculation of a GBP200m (US$307m) takeover of Matthew Clark, the biggest supplier to the UK's pub trade.
Matthew Clark is jointly-owned by Accolade Wines and Punch Taverns.
This week, the distributor reported double digit growth for year-on-year premium wines sales. Premium still wine sales throughout Matthew Clark’s customer base were up 10.7%.
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