Eversheds has advised Investec Bank plc (as Nomad and Joint Broker) and Zeus Capital Limited (as Joint Broker) in connection with the acquisition of Bibendum PLB Group and £32m placing of new shares by Conviviality Plc.

Conviviality Plc today announced the acquisition of Bibendum PLB Group, one of the largest wine, spirit and beer distributors and wholesalers to the UK on-trade and off-trade markets, for an enterprise value of £60 million.

The acquisition was part funded through a placing of £32 million new ordinary shares.

Conviviality Plc is the UK’s leading independent alcohol wholesaler serving customers through the on-trade and through its owned and franchise retail estate.

Partner Daniel Hall and senior associate Paul Keohane provided ECM advice to Investec and Zeus Capital.

Daniel commented:

“Investec and Zeus Capital are longstanding clients of the firm and it is a pleasure to have advised them on another significant ECM transaction in this sector and for the north-west.”

Garry Levin, director of Investec, said:

“The support from Danny and Paul on this transaction was of the highest standard and ensured it was a smooth and efficient process.”

Nick Cowles, director of Zeus Capital, said:

“This was a complicated transaction with a short timetable. We were again delighted with the support and advice we received from Danny and Paul at Eversheds to deliver the project.”