Conviviality, a British company in deep crisis, recently sold its retail division to the U.S. Budweiser Group for £7.25 million.
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The acquisition transaction was handled by PricewaterhouseCoopers last Friday.
Matthew Callaghan, a partner at PricewaterhouseCoopers, said: "This acquisition ensures that Conviviality UK employees will be able to maintain their jobs and also provides Conviviality UK with an infusion of capital to ensure that the partnership between Conviviality US and its distributors The acquisition also provides Conviviality UK with an infusion of capital to ensure the continuation of the partnership between Conviviality USA and its distributors.
Conviviality UK's retail division currently has a total of over 800 stores in the chain.
