Bestway buys Conviviality's retail divisions

Bestway is to buy the retail divisions of Conviviality in a ?7m deal, it has been announced.
The deal will see the food wholesaler, which is founded and chaired by billionaire Sir Anwar Pervez, gain control of Bargain Booze, Wine Rack, WS Retail and Select Convenience.
It is thought that 2,000 jobs have been saved as part of the deal.On Wednesday it was announced that Magners owner C&C had bought the wholesale arm of the stricken Conviviality through a pre-pack administration.The Irish cider company gained brands Matthew Clark, Bibendum, Catalyst, Peppermint, Elastic, and Walker & Wodehouse in the deal.
Last week, Conviviality confirmed it plans to appoint administrators within the next 10 days after profit warnings and the discovery of a €30m tax bill, putting 2,600 jobs at risk.
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Conviviality's shares had been suspended after its tax admission, leaving it with a market value of just €185m.More follows...
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