Updates

Conviviality Retail - Eps enhancing acquisition of Matthew Clark

October 2015

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

The shares opened sharply ahead of their pre-suspension price after Conviviality completed the £198m acquisition of Matthew Clark together with an associated placing.Matthew Clark is the leading drinks distributor in the UK, supplying 16,000 premises and puts Conviviality on the map. In the year to 28 February, it had sales of £811.2m and an adjusted EBITDA of £25.3m. The deal takes combined annual sales to over £1.1 billion. To pay for the deal, Conviviality has placed 86.7m shares at 150p to raise £122m net plus taken on £80m of new debt facilities. Matthew Clark's core business is drinks wholesale and supplies the on-trade market including pubs, restaurants an ...

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