Off-licence chain Bargain Booze has succeeded in its bid to buy the Central Convenience chain formerly owned by distributor Palmer and Harvey (P&H) for £25m.
Conviviality, the parent company of Bargain Booze and on-trade wholesaler Matthew Clark, said this morning it had put in an offer for the 127-strong group, which includes 18 franchisee-operated stores trading under the Central Convenience fascia.
Administrators at PricewaterhouseCoopers have now accepted the offer, which includes handing on the agreements with franchisees. P&H was place in administration at the end of November.
Diana Hunter, chief executive Officer at Conviviality, said: “We are delighted to have completed the acquisition and to have the Central Convenience business join the Conviviality Group. We now welcome our new colleagues and franchisees to the group.
“Conviviality Retail now comprises 836 stores, serving more customers in the south and south-west of England.”