- Wine retailer Majestic Wine said it had agreed to sell its retail and commercial businesses for £100m.

The businesses, known as Majestic Wine Warehouses and Les Celliers de Calais, would be sold to CF Bacchus Holdings, a vehicle controlled by funds managed by Fortress Investment Group, for £90m.

The company said a separate sale of one freehold property previously owned by Majestic Wine Warehouses to an independent third party was expected to realise a further £5m, bringing total proceeds to around £100m.

Majestic Wine said the sale would allow it to focus on its Naked Wines online business.

Completion of the disposals was expected to occur in the fourth quarter of 2019.

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