Majestic agrees sale of Retail and Commercial businesses
06 August 2019
Allen & Overy is advising Majestic Wine plc (Majestic) on the intended sale of its combined Retail and Commercial businesses to global investment manager Fortress Investment Group (Fortress). Fortress, which is owned by SoftBank, will pay a total consideration of GBP95 million for the businesses, which will continue to trade under the Majestic name. The transaction, which is conditional on EC antitrust clearance and Majestic shareholder approval, represents a significant milestone for Majestic, which now intends to focus on driving growth in its Naked Wines business.
The A&O team was led by Corporate M&A partner Seth Jones and senior associate Alex Tilley. Partners Alasdair Balfour and Nigel Parker advised on antitrust and commercial matters respectively.