FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
Skip Navigation LinksHome / News / Read News


Wells Fargo Supports Fortress’ Acquisition of Specialty Wine Retailer

January 30, 2020, 08:55 AM
Filed Under: Beverage

Wells Fargo Capital Finance (UK) Limited, part of Wells Fargo & Company, announced that it provided acquisition and working capital financing to funds managed by affiliates of Fortress Investment Group LLC (“Fortress”) for the take private of Majestic Wine Warehouses Ltd (“Majestic”) – formerly part of Majestic Wine plc.

US investment firm Fortress recently completed a £95 million acquisition of Majestic1, a specialist leading UK wine retailer. Acting as the sole lender, Wells Fargo Capital Finance provided a four-year £55 million credit facility to the investment group to support the purchase. The loan also provides liquidity for the future strategic growth and working capital requirements of Majestic.

“Alongside our experience of more than 20 years in funding inventory across retail premises, we were able to create a customised funding solution that assisted Fortress’s acquisition of Majestic,” said Tom Weedall, head of UK originations, Wells Fargo. “The UK is the largest net importer of wine and we are looking forward to working alongside Fortress as they seek to grow Majestic’s presence in this mature market.”

Week's News

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.