LONDON: Majestic Wine PLC has entered into an agreement to sell Majestic Wine Warehouses Limited and Les Celliers de Calais, which together comprise the Majestic Retail and Commercial businesses to CF Bacchus Holdings Limited, a vehicle controlled by funds managed by Fortress Investment Group LLC, for a total consideration of £95 million.
A separate sale of one freehold property previously owned by Majestic Wine Warehouses to an independent third party is expected to realise a further £5 million subject to approval of a planning application for redevelopment, bringing total proceeds to approximately £100 million.
These transactions represent a major milestone in the Group’s history, enabling the Board to focus on driving growth in the Naked Wines business (Naked), which has a disruptive online model and operates in fast growing markets.
Edited by Kazim Rizvi