2nd Jul 2019 18:27
(Alliance News) - US investment firm Fortress, which is owned by Japan's SoftBank, has become the frontrunner to buy Majestic Wine PLC's portfolio of about 200 shops following weeks of talks, the Sky News reported on Tuesday.
In addition, Sky News said Fortress had approached former spirits merchant Berry Bros & Rudd and grocer Tesco PLC Executive Dan Jago about running Majestic after any sale completes.
Citing sources, the news agency said Fortress is now the leading bidder for the operation.
https://news.sky.com/story/fortress-close-to-toasting-deal-with-majestic-wine-seller-11755155
In late March, Majestic Wine said it would be restructuring and renaming itself under its Naked Wines brand, which it bought in 2015 for GBP70 million.
At the end of May, Sky News reported that several parties, including private equity firm OpCapita were interested in acquiring the AIM-listed firm's store estate. At the time, Sky News said OpCapita was ready to pay at least GBP100 million.
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