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BREAKING NEWS

BREAKING NEWS

Majestic Wine's retail business attracts many suitors

Majestic Wine's retail business attracts many suitors
FILE PHOTO: A general view of a Majestic Wine Warehouse in Cheadle Hulme, Stockport, north-west England on June 13, 2015. REUTERS/Andrew Yates/File Photo -
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Andrew Yates(Reuters)
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(Reuters) - Britain's largest specialist wine retailer Majestic Wine said it had received a number of expressions of interest for its branded retail business, which it was exploring to sell.

Majestic Wine's shares were 3.6% higher at 275.1 pence at 0931 GMT.

The wine producer and distributor said in March it would sell some assets, close stores and review its dividend to focus on its growth engine, Naked Wines, as it seeks to fend off competition from discount markets and online rivals.

The company also said last month that it could sell its 200 or so branches in Britain.

Sky News reported on Monday that OpCapita, the former owner of the Comet retail chain, was among a group of investors looking to buy Majestic Wine's store network for 100 million pounds.

(Reporting by Samantha Machado and Noor Zainab Hussain in Bengaluru; editing by Gopakumar Warrier)

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