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Majestic Wine is buying online company Naked Wines

2015-04-10 10:03:23| Beverages - Topix.net

Naked Wines, founded in 2008, runs a crowd funded business where around 300,000 subscribers help fund over 130 independent winemakers in 14 countries in exchange for access to exclusive wines at preferential prices. It generated sales of A 74 million last year, up 40% on a year ago, but made a loss of A 3.3 million.

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Majestic Wine to acquire Naked Wines for 70 mln

2015-04-10 10:03:22| Beverages - Topix.net

Majestic Wine PLC said Friday that it will acquire online wine retailer Naked Wines in a cash and stock deal worth up to 70 million pounds , and added that Naked Wines founder, Rowan Gormley, will become the chief executive officer of the combined company. The U.K. wine retailer also said that it expects adjusted pretax profit for the year ended March 31 to total around GBP21 million.

Tags: wine acquire naked wines