- 19 December 2017
- Transport / Logistics Services
Bargain Booze retail chain owners Conviviality has bought more than 100 former Palmer & Harvey convenience stores for a reported £25 million.
According to Conviviality it will maintain the current supply chain in the short term. It is to move most of the supply to the in-house Conviviality supply chain in the first four weeks after the acquisition is complete. It will also review and rationalise ‘direct to store’ suppliers to key local providers.
The former Palmer & Harvey Central Convenience chain included 109 wholly owned stores as well as 18 franchise stores around the south and SW of England. These include 20 petrol stations, and among the chain as a whole there are 47 post offices.
Most will be converted to Conviviality’s “Select Convenience” fascia with up to four becoming “Bargain Booze” fascias.
Palmer & Harvey was a supplier and customer of the Conviviality Retail business before it went into administration on 28 November 2017.
Conviviality said it had “successfully implemented its business continuity plans and has secured direct supply of tobacco products from the key tobacco manufacturers, ensuring continuity of supply following P&H’s administration”.
Chief executive Diana Hunter said: “We are pleased to have finalised terms for a potential acquisition of Central Convenience as it provides a clear opportunity to accelerate the growth and reach of the existing Conviviality Retail business, notably broadening our geographic footprint in the south and south west of England. The acquisition, if effected, will support our strategic goal to be the drinks and impulse sector’s leading independent distributor and we believe that potential exists for a range of synergies and increased returns for Conviviality’s shareholders. We look forward to welcoming colleagues from Central Convenience to the Conviviality Group.”