Battle for Majestic's retail estate attracts new interest
US investment giant Fortress is believed to have joined rival bidders in the £100 million battle for Majestic Wines store portfolio.
Fortress is reported to now be in the race along with OpCapita and other bidders to acquire the retail estate from Majestic, following the wine company’s recent announcement that it plans to focus on its Naked Wines digital arm,
Majestic, which is due to provide a trading update next month, aims to sell its stores – totaling around 200 – to help inject cash into its Naked Wines business, a strategy that also includes changing the corporate name to Naked Wines.
Fortress Investment Group is involved in a number of businesses, predominantly in the US. It is the parent company of the Brightline (now Virgin Trains USA), Mystay Hotels and resorts in Japan and it owns Canadian ski resort operator Intrawest. It is involved in RailAmerica, Penn National Gaming (an operator of casinos and horse racing venues) and it has a big private equity portfolio.
Earlier this month it was revealed that OpCapita, which owned Comet, was also one of the bidders vying for Majestic’s retail estate.