Conviviality Plc acquires Bibendum PLB
It has been announced that Conviviality Plc is acquiring Bibendum PLB.
Conviviality is the UK’s largest independent drinks wholesaler and distributor; it is a successful public company and enjoys the support of a strong institutional investor base. Conviviality has grown through careful acquisition of complementary businesses to strengthen its drinks capability and wholesale business.
Bibendum PLB was formed in 2014 when Bibendum Wine Ltd merged with the PLB Group. It has five distinct trading companies each focused on a different market sector: Bibendum (on trade), PLB (multiple retail), Walker & Wodehouse (independent retail & wholesale), Instil Drinks Co (spirits and beer) and The Wondering Wine Company (events).
All five trading companies will continue to operate as normal within Conviviality and it remains business as usual under the new ownership. Bibendum PLB’s leadership team, including CEO Michael Saunders, remains in place and no significant changes are envisaged in the near future.
Michael Saunders, CEO of Bibendum PLB said: “I am very proud of the success of Bibendum PLB, but as in so many parts of life, things need to change in order to evolve and develop. The new group now formed under the Conviviality banner is formidable – truly formidable - and with very significant opportunity to grow in all the areas in which we operate. How exciting is that?”
Diana Hunter, CEO of Conviviality Plc, said: “We are pleased to be acquiring Bibendum PLB as the business will not only accelerate our strategy of expanding our wholesaling expertise into new markets and channels, but brings significant expertise to Conviviality in the off-trade wholesale market through the PLB business. Bibendum PLB’s wine speciality, particularly in old world and premium wines complements our other businesses and helps us to accelerate our leading position in the independent on-trade market. The team brings significant wine wholesaling expertise and an enviable portfolio of high quality and loyal customers, particularly in London and the South East.
“The acquisition of Bibendum PLB accelerates our aim to satisfy all of our customers who want to consume alcoholic beverages at home or out of home, whatever the occasion, serving customers directly via retail outlets and indirectly through hospitality and foodservice channels. We believe the acquisition will give rise to significant potential synergies and increase returns for Conviviality's shareholders.”
For further information or interview requests contact:
Michael Saunders, Chief Executive Officer 0207 449 4049
Claire Page, PR Manager 0207 449 4068
01270 614 700 or via FTI Consulting
Diana Hunter, Chief Executive Officer
Andrew Humphreys, Chief Financial Officer
FTI Consulting 020 3727 1000