Majestic Wine Plc (AIM:MJW) - Acquisition, CEO appointment and trading update
Majestic announced this morning it is to acquire online wine retailer, Naked Wines in a £70m deal. The transaction will open up potential international growth in the USA and Australia and should diversify away from Majestic’s home market which has become stagnant in recent times. Majestic and Naked Wines will continue to operate as independent brands.
Majestic, however, will cease paying dividends including this year’s final dividend with a view to progressively reinstating in 2018. This will be the first time in 18 years that Majestic hasn’t paid a final dividend.
Majestic will pay a total consideration of up to £70 million, which includes approximately £50 million payable on completion…
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