Log in or Register for enhanced features | Forgotten Password?
White Papers | Suppliers | Events | Report Store | Companies | Dining Club | Videos
Specialist Retailers
Food, Drinks & Grocery Retailers
Return to: RBR Home | Specialist Retailers | Food, Drinks & Grocery Retailers

Bargain Booze owner plans £65m IPO for southeast expansion

RBR Staff Writer Published 17 July 2013

Conviviality Retail, the UK-based owner of off-license chain Bargain Booze, is mulling an initial public offering (IPO) to raise funds of up to £65m by the end of July 2013.

The alcohol retailer is looking to expand the brand in southeast region betting upon the strong performance of other discount retailers such as Poundland and Lidl.

Conviviality Retail chief executive Diana Hunter was quoted by Financial Times as saying that the value has become a democratized concept with customers realizing the importance of value.

The plan to raise funds comes at a time when the federal government announced the postponement of minimum alcohol pricing in England.

Proceeds from the share sale will also help the company is cutting down its debt alongside providing payday for its private equity investor ECI.

Hunter added that the chain can match up with supermarket chains such as Tesco.

"We carry a deeper range in our assortment than a supermarket's convenience store," noted Hunter.

Bargain Booze is also looking to expand its wine offerings that account more than 10% of its total revenues.