Bargain Booze jobs saved with Conviviality buyout

Bestway has completed the buyout of the retail divisions of Conviviality in a ?7m deal, it has been confirmed.
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. Administrators PwW say in total 4,000 jobs have been protected.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.
More from Business

Deutsche Bank sacks British boss after losses

Royal Mail to deliver parcels boss Back as Greene's successor

Rip-off leasehold reforms 'don't go far enough', say campaigners

Barclays to begin hunt for chairman McFarlane's successor

Aston Martin lines up banks to steer ?4bn stock market float

China ready to win at 'any cost' in trade war

Last week, Conviviality confirmed its 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.Conviviality's shares had been suspended after its tax admission, leaving it with a market value of just €185m.
See also:
Leave a comment
  • Latest
  • Read
  • Commented
Calendar Content
«    Апрель 2019    »