Majestic Wine’s £100m high street store network could fall into the hands of U.S. investment giant
Majestic Wine’s stores could fall into the hands of US investment giant Elliott Advisors
Majestic Wine’s High Street stores could fall into the hands of US investment giant Elliott Advisors.
Activist investor Elliott, which already owns British bookshop chain Waterstones, has launched a bid for the alcohol retailer’s £100 million store network, according to Sky News.
Investment firms OpCapita and Fortress, which is owned by Japan’s Softbank, also have Majestic’s shops in their crosshairs.
Elliott’s interest in the wine chain, which is planning a retreat from Britain’s High Streets amid plummeting profits, has heightened hopes of a bidding war.
Majestic was mulling a sale of its 200 shops so it can focus on its online brand Naked Wines.