Conviviality Retail buys Wine Rack

Conviviality Retail, the Bargain Booze chain owner that recently listed on Aim, has bought a London-based off-licence chain to boost its footprint in the capital. The north west-based company announced yesterday it has acquired Wine Rack and its 22 stores for £1.65m in cash.

Conviviality, which runs over 610 convenience stores, raised around £64m in its July share placing, which it plans to use to push into the south east and tap into the growing demand among cash-conscious shoppers for bargains.

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