WaverleyTBS is considering acquisitions opportunities and says it could begin selling directly to consumers, as it finalises its new management team with the appointment of the company’s first chief financial officer (CFO).
Mark Johnston, who was most recently finance director at Powerhouse Energy Group, has been given the role at the drinks wholesale business. It follows the promotion of Steve Benger and Jon Hughes to chief executive and sales and marketing director respectively in July.
Benger said: “Mark brings a wealth of private equity and mergers and acquisitions experience gained in a range of different industries. That background is precisely what we need as we continue our growth programme.”
He told M&C report that Johnston’s appointment was the “last piece in the jigsaw” for the management team at WaverleyTBS, which was bought from Heineken in 2010.
“Two years into independence we’ve put a lot of things right in the business and we feel that we’ve got a platform now to grow.
“We would be blind not to realise there’s a need for consolidation and a lot of opportunity will come in consolidation.”
Benger said it was “too strong” to suggest the company is actively looking at acquisitions at the moment, but he said: “We have an eye open on a number of things. For us, it’s [about finding] the right one rather than any one.”
He added that a new e-commerce ordering system going live in September or October will make it easier for customers to place orders on-line, and will be more suited to those who want to make more frequent but smaller orders.
“We have immediately created something that can move from the business to the consumer place,” said Benger. He added that the system will be familiar to consumers who are familiar with websites such as Amazon and wanted to place orders for private parties, for example.
Benger said a move to sell directly to consumers is “not a priority for this year or next year”.
Meanwhile, the consolidation of its depos has continued, with the company now operating five stocked sites, including two fully stocked, Benger said.
Johnston’s former roles include CFO and financial director roles at office supply company Vasanta Group, plus senior positions at dental services firm James Hull Group at Simon Group.
