Bargain Booze acquires 127 P&H stores and becomes franchisor for 18 more franchisee run stores in the UK.
Conviviality, the alcohol wholesaler that owns Bargain Booze, struck a deal for £25m that includes the acquisition of 109 Central Convenience stores from Palmer & Harvey (P&H) and 18 franchisee run stores. The alcohol wholesale franchisor plans to convert nearly all of its new sites into Bargain Booze Select Convenience stores and four to off license Bargain Booze format. Conviviality will visit all 127 stores within 10 days following the acquisition and it expects the conversion to take anything between three to six months to complete.
Central Convenience Stores has been known as P&H’s business fastest growing and highly profitable arm with £75million in annual sales delivering £2.8million in annual profits. Conviviality reported there are already several new franchisees in the pipeline for Central Convenience Stores to open soon. Central Convenience Stores includes 47 post offices and 20 petrol forecourts across South and South West of England.
Central Convenience Store franchisee and owner of Church Bridge Stores, Aiden McDonald told Retail Express: “We’re optimistic but uncompromising. Bargain Booze runs good quality, successful outlets and we are confident they are a well-run company, but the devil is in the detail.”
“I’m interested to find out more about its grocery supply as the ranging and availability in this sector is a key aspect of our store.”
Diane Hunter, Conviviality chief executive officer, added the deal would “Support our strategic goal to be the drinks and impulse sector’s leading independent distributor.” She continues: “We look forward to welcoming colleagues from Central Convenience to the Conviviality Group."
Debra-Derieux Matos, Point Franchise ©
0 Comments