UK: Conviviality Retail to buy 26 off-trade stores in UK
Conviviality Retail, the owner of UK off-licence chain Bargain Booze, has agreed to acquire 26 outlets from RNB Stores for GBP1.7m (US$2.88m).
The stores are largely based in Yorkshire and north-east England and operate under the Rhythm and Booze brand. Announcing the deal today (6 May), Conviviality said it intends to retain all store staff and rebrand the shops under an “appropriate” company fascia. The deal is expected to complete on 16 May, following a consultation period with staff who are transferring, the company said.
Conviviality said it will eventually consider switching the stores to the company's franchise model.
Diana Hunter, Conviviality's CEO said: “This acquisition is entirely in line with our strategy for geographic expansion. The 26 stores provide opportunities for us to extend our reach into Yorkshire, offering growth opportunities for the company and our franchisees."
RNB Stores operates as a subsidiary of Bibby Retail Services.
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