Conviviality FY results nearly double to £1.56bnBy Amy Hopkins
Leading UK alcohol wholesaler and distributor Conviviality has nearly doubled its sales over the last year to reach £1.56 billion (US$2.02bn) following the group’s acquisition of Bibendum PLB.
In the 52 weeks to 30 April 2017, the group’s sales soared 85%.
According to Conviviality, FY17 marked its transformation from a “franchised off licence business into the UK’s leading drinks wholesaler and distributor”.
In May last year, the firm purchased wholesaler and distributor Bibendum PLB for £60 million (US$88.5m). Towards the end of 2015, Conviviality’s franchised retail unit, Conviviality Retail, acquired Matthew Clark.
“We have come to the end of an unprecedented year of change and I am pleased to report a strong trading performance for the group and for each of its business units,” said Diana Hunter, CEO of Conviviality.
“It is encouraging to see our customers and suppliers benefiting from the skills and the expertise of the enlarged group, its scale and reach and its positioning as the UK’s leading drinks wholesaler and distributor.
“We have made great progress on the integration of Matthew Clark and the acquisition and integration of Bibendum PLB Group. Our focus will continue to be on improving the business and ensuring that benefits are realised from our greater scale, as we drive efficiencies for the group and greater service for our customers.”
For Conviviality Direct, the UK’s largest wholesaler to the on-trade, sales increased 6.4% to £1.04bn thanks to the impact of consumers switching to a “one stop shop” model.
Sales within Conviviality Retail grew 6.1% to £374m, while Conviviality Trading, comprised of specialist branding agencies, increased sales by 1% to £146m.