Stumbling UK Pound prompts price increases at Bibendum PLB, Matthew Clark - CORRECTION
Conviviality acquired Bibendum PLB earlier this year
Conviviality Group has lined up price increases in the UK across its Bibendum PLB and Matthew Clark businesses, as the falling Pound starts to squeeze margins.
The firm's drinks distribution units confirmed that the move is a result of "unprecedented times". Sterling has slumped in recent weeks due to uncertainty surrounding the UK's planned withdrawal from the European Union.
"During the recent unprecedented times, with the fall in value of the Pound, we have had to increase prices on certain products," the company said. "In addition to this being a moderate increase, we are working with our customers to minimise the impact that the increase will have, such as mitigating the holding prices on over 400 lines (700 lines for Matthew Clark)."
Is the Conviviality, Bibendum PLB deal the future of the UK drinks trade? - Click here for an interview with Conviviality CEO Diana Hunter
NB: This article was originally published on 18/10/16, with the headline 'Stumbling UK Pound prompts price increases at Bibendum PLB'. The company has since confirmed that increases will also take effect across Matthew Clark.
- Most Valuable Spirits Brands in 2017 - The facts
- Most Valuable Beer Brands in 2017 - The facts
- Diageo Africa president O'Keeffe on beer & spirits
- Travel Retail needs a disruptor - Comment
- What the future looks like for Australian wine
- Diageo ready to lock horns with AB InBev in Africa
- Heineken sees Tesco pull SKUs in UK
- Fever-Tree eyes bumper NPD, pack formats for 2017
- Diageo unveils Blender's Batch in the US
- Heineken mulls M&A with $1.75bn notes issue
- Central and East Europe Report Package
- Battle of the Generations - The fight for iGen, Millennial, Gen X and Baby Boomer consumers
- Global vodka insights - market forecasts, product innovation and consumer trends
- Global Scotch insights - market forecasts, product innovation and consumer trends
- Spirit Market in the Top 5 European Countries to 2021 - Market Size, Development, and Forecasts