Majestic Wine targets ‘ambitious growth’ as sale completes

Majestic retail 4

Majestic Wine has confirmed its sale to US firm Fortress Investment group for £95m.

The specialist retailer will continue to trade from all of its 190 stores across the country following the threat of closure of 140 stores under the previous owner.

The company also confirmed that previous boss John Colley had rejoined the business following his departure from Kingfisher as chief trading officer.

Fortress is set to focus on “ambitious growth” has unveiled its first new store for over two years in Blackheath, South London.

The specialist wine retailer employs over 1000 staff and made £300m in revenue last year.

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