Bargain Booze owner Conviviality has completed its purchase of national on-trade wholesaler Matthew Clark.

The wholesaler was previously owned jointly by Accolade Wines and pub operator Punch Taverns, and the two companies signed agreements to sell to Conviviality last month. The transaction is valued at £200m.

As a result of the acquisition, Conviviality has dropped the word ‘Retail’ from its company name.

Conviviality chief executive Diana Hunter said: “We are delighted to have completed the acquisition of Matthew Clark. The combination of the two companies is a great strategic fit and a transformational acquisition for Conviviality Plc. Matthew Clark is a significant wholesaler in the drinks industry, larger than the next seven independent operators combined, and together with Conviviality this creates a unique business that addresses both on-trade and off-trade retailers.

“The enlarged group will be independent of major drinks brands, enabling us to supply an unrestricted selection of products to customers who value breadth of range, price and quality. We look forward to welcoming our new colleagues into the group and continuing to deliver excellent service to our customers across both businesses.”