Waterstones owner joins race for Majestic Wine

Majestic Wine1

Elliott Advisors – the investment company that owns Waterstones and most recently acquired Barnes & Noble – has made a bid for Majestic Wine.

The investment firm has joined the £100m auction for the wine retailer alongside rival investment companies OpCapita and Fortress, according to Sky News.

As part of Majestic Wine’s transformation plan unveiled in March, it is looking to shift its focus to its digital arm Naked Wines, which it acquired in 2015.

As a result of this strategic shift, the business plans to close bricks-and-mortar stores and sell assets.

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