DLA Piper has advised Conviviality Retail Plc, the owner of Bargain Booze, on its initial public offering to realise a market capitalisation of £66.7 million on admission on AIM.

Conviviality Retail Plc operates the UK's largest franchised off-licence and convenience chain with over 600 franchisee-owned stores in the north of England. The Conviviality Group is a buying, marketing and logistics business offering a full support package to 460 franchises. Conviviality's franchisees operate under six fascias which include Bargain Booze and Bargain Booze Select Convenience.

The DLA Piper Manchester Corporate team was led by partner James Kerrigan with legal director Ciaran Stone, senior associate Melanie Kay and trainee Elizabeth Warwick. They were assisted by partner Matt Christmas and associate Charles Weems who advised on banking matters.

Ciaran Stone commented: "The retail sector has struggled during the economic downturn and the off-licence industry is no exception. Bargain Booze has the opportunity to capitalise on its strong position of offering an extensive range at reduced prices. Its flotation on AIM will stand it in good stead to expand its business."