Majestic Wine to be sold in £100m disposal deal
Wine specialist Majestic Wine PLC has announced it has entered into an agreement to sell Majestic Retail and Commercial businesses in a deal worth around £100m.
CF Bacchus Holdings Limited (“BidCo”), a vehicle controlled by funds managed by Fortress Investment Group LLC, is set to purchase the businesses for £95m, with a third party expected to buy a freehold property from Majestic for a further £5m.
The funds from the deal will be used to invest in the growth of the group’s Naked Wines brand as well as eliminate existing group debt, with £3.8m to be returned to shareholders by way of a dividend.
Rowan Gormley, CEO of Majestic, commented: “I am delighted that we have managed to secure an independent future for both Naked and Majestic Retail and Commercial, allowing both companies to pursue growth by focusing on their unique propositions.
“I would like to thank all staff, customers and suppliers for their loyalty during this process.
“We look forward to the future and continuing to focus on what we do best… sharing our spectacular wines from our hundreds of talented winemakers with our customers!”
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