Magners owner buys Bibendum

MAGNERS brewer C&C has swooped on collapsed drinks firm Conviviality to snap up its distribution business, saving around 2,000 jobs.

C& C, which also owns Tennent’s lager, has acquired Matthew Clark and Bibendum from the beleaguered Bargain Booze owner for £1.

The deal, which requires C&C to pay off £102m of debts to Conviviality bankers, is backed by brewer AB Inbev, which makes Stella Artois. It will also buy subsidiaries Catalyst, Peppermint, Walker & Wodehouse and Elastic. Bibendum is one of the UK’s largest wine, spirits and craft beer distributors, while Matthew Clark is the largest independent distributor to bars and eateries.

Conviviality hit trouble in March when it failed to account for a £10m tax bill, putting 2,800 jobs at risk.