Rowan Gormley has been appointed as chief executive of Majestic Wines as the retailer acquires Naked Wines, the business he co- founded, for £50 million in cash plus £20 million in ordinary shares of Majestic Wines.
It is understood that the Naked Wines business will continue to operate independently and retain its team. Commenting on the deal Majestic Wines chairman Phil Wrigley said “this acquisition will significantly accelerate the planned development of Majestic’s online capabilities whilst providing Naked Wines with a nationwide store network to allow a click and collect delivery option for its customers. In addition, this acquisition opens up attractive international markets, increasing our potential customer reach eight-fold.”
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