Majestic Wine retail estate could be sold off for £100m
A number of investors are reported to be interested in buying the Majestic Wines’ 200-strong retail estate, following the announcement in March that the company plans to change its corporate name to Naked Wines with increased focus on its online business.
Private equity firm OpCapita, the former owner of the Comet retail business, is among a number of potential bidders for Majestic Wines’ network of stores and it is believed to in competition with a US-based investor, as well as another business, who are all interested in buying the Majestic chain.
Majestic is expected to use the profits from the sale of its stores to inject growth into its Naked Wines business.
The sale of the stores is being handled by advisers at Rothschild and it is believed the company hopes to secure a deal – with an asking price of at least £100 million - before it announces its latest financial results in June.
The Majestic retail arm comprises an estate of about 200 stores.
It recently announced it would change its corporate name to Naked Wines as the business focuses on its successful internet arm and in April DRN reported a store in Wakefield had already been transformed into a Naked Wines showroom as part of a trial from the group.