Bargain Booze owner buys Wine Rack for £1.6m

02 September, 2013

Bargain Booze owner Conviviality Retail has bought the Wine Rack chain from Venus Wine & Spirit Merchants.

Conviviality, which recently floated on the Alternative Investment Market, has paid £1.6 million for the chain, bought by Venus after the collapse of previous owner First Quench in November 2009.

The sale to Conviviality brings the group’s store base up to 633 and gives it a significant entry point into London and south east England – one of its key target areas for expansion – and into upmarket wine retailing.

It also brings a clutch of manger-operated, company-owned stores into a group firmly based on a franchise model.

Conviviality said it intended to offer a franchise opportunity for the Wine Rack format in future including further Wine Rack sites both in the south and other regions.

Ron Booker, Wine Rack’s regional operations manager, will remain with the business.

Under Venus, Wine Rack grew from 13 stores to its current 22 but struggled to keep up with the pace of expansion hoped for by Venus chairman Laki Christoforou shortly after the acquisition.

Venus will continue to supply specialist wine ranges to the Wine Rack chain and these will also be made available to Bargain Booze franchisees.




Bookmark this


Site Search

COMMENT

Donald Trump: the US has much to learn from history

The reasons Donald Trump should not be left in charge of a shopping trolley, let alone the keys to the White House, are plentiful and well-documented – from his use of the word “bigly” and lamentable business legacy to his dubious post-modern feminist principles, quite astonishing lack of political acumen and, most worrying of all, his bewildering hair. 

Click for more »
Upcoming events

Polls

Is blended Scotch overshadowed by single malt in retailers?

  • Yes
  • No
  • Don't know

Facebook

Twitter