Bargain Booze owner Conviviality has confirmed it is in discussions to acquire stores from rival Bibby Retail Services.
Conviviality, which listed on the stock exchange last year, said in a statement: “Conviviality confirms that it is in discussions with Bibby Retail Services Limited, but there is no certainty that any transaction will be concluded. Any transaction, should it occur, would be funded through existing resources.”
It has been reported that Conviviality is eyeing Bibby Retail Services’ Rhythm and Booze off license chain. It is thought the group intends to buy around 20 stores and the brand name.
Conviviality highlighted that it has said in the past that it would “consider complementary strategic acquisitions” as part of its plans to grow. In September it acquired the Wine Rack chain from Venus Wine & Spirits Merchants.
Conviviality added that it “continues to look for value-enhancing investments and to manage our existing portfolio in order to maximise value for all our shareholders”.