It has been revealed Bestway has acquired Bargain Booze and Wine Rack for £7.25 million, saving around 800 stores and 2,300 jobs.
The two firms were previously owned by Conviviality, which announced its plans to go into administration last month as a result of failing to pay its £30 million tax bill.
Established in 1976 in London, Bestway is currently the UK’s largest food wholesaler. As part of Bestway Group, the firm has a turnover of £2.5 billion and supplies in excess of 70,000 retailers and 40,000 catering operators, as well as operating its 1,100 Best-One brand stores across the country.
Conviviality commented on the acquisition:
“The sale secures continued employment for circa 2,300 employees of the Conviviality Retail business and provides continuity of trade for suppliers and franchisees.”
The news comes after Conviviality’s wholesale arms including Bibendum and Matthew Clark were sold to Magners Cider the previous week, which saved around 2,000 jobs.