Conviviality Retail, the owner of Bargain Booze, has announced it plans to acquire wine wholesaler Bibendum in a deal worth £60m.

Conviviality, which is the UK’s largest independent drinks wholesaler and distributor, first ventured into supplying the on-trade last year when it purchased drinks wholesaler Matthew Clark for £200m. The company also runs 624 off-licence and convenience stores including the Wine Rack brand, as well as Bargain Booze.

Diana Hunter, chief executive of Conviviality, said the purchase would bring “significant expertise to Conviviality in the off-trade wholesale market”.

She added: “Bibendum PLB’s wine specialty, particularly in old world and premium wines, complements our other businesses and helps us to accelerate our leading position in the independent on-trade market. By operating a delivered wholesale model we can serve a diverse range of customers and build our wine and spirit volumes further while simultaneously strengthening our retail channel.”

“The acquisition of Bibendum PLB accelerates our aim to satisfy all of our customers who want to consume alcoholic beverages at home or out of home, whatever the occasion, serving customers directly via retail outlets and indirectly through hospitality and foodservice channels. We believe the acquisition will give rise to significant potential synergies and increase returns for Conviviality’s shareholders.”

Bibendum, which was founded in 1982, merged with PLB in 2014 to form Bibendum PLB Group. It owns five individual businesses: Bibendum Wine (on-trade), PLB (multiple retail), Instil Drinks Co (spirits and beer), Walker & Wodehouse (independent retail and wholesale) and The Wondering Wine Company (events).