Majestic Wine: a sad exit for this former AIM star
Majestic Wine has agreed the sale of its retail and commercial businesses to US based investor Fortress Investment Group, which is owned by Japan’s Softbank. But what value remains in the Naked Wines business?
The sale of its physical retail division leaves Majestic Wines (LON: WINE) - set to change its name to reflect its new focus - to focus on its jazzier online Naked Wines business, with its angel investors and international potential. The history of Majestic Wines provides an interesting insight into the evolution of a business model, supplying a product which hasn’t changed at all during this time. The acquisition is also an interesting move for the US based acquirer, which has a liking for real estate and is no doubt attracted by Majestic’s £40m of freehold property and the cash…