BWG sells off Bargain Booze

IRISH food and retail distribution business BWG Group has sold Bargain Booze Ltd, Britain’s fastest growing off-licence, to ECI Partners, in a deal worth €93 million.

ECI, a British buy-out specialist, is backing the existing management team and will support the expansion programme that Bargain Booze is pursuing.

BWG chief executive Leo Crawford said: “BWG can now focus exclusively on our grocery businesses in Ireland and the UK.”

Joint managing director of Bargain Booze Matthew Hughes said: “All parties involved with the process have worked long and hard to ensure that the correct investment partner for Bargain Booze was found.

“We believe that, in ECI, we have aligned ourselves with the right backers for the company; they are genuinely in tune with our ethos of providing a best-in-class service to our franchise members in order to power forward with our unique retail offering.”

Bargain Booze has 565 stores.

It has recorded compound annual growth in both turnover and profitability of over 20% since it was acquired by BWG Group in 1999.

Founded in 1983, Bargain Booze operates three retail fascias comprising of Bargain Booze, Bargain Booze Plus and Thorougoods.