Commodities

Majestic Wine says retail business sale talks in advanced stage

Credit: REUTERS/Andrew Yates

Majestic Wine said on Thursday it was in advanced talks over a potential sale of its retail and commercial outlets as it looks to focus more on its fast-growing Naked Wines brand.

June 13 (Reuters) - Majestic Wine WINEW.L said on Thursday it was in advanced talks over a potential sale of its retail and commercial outlets as it looks to focus more on its fast-growing Naked Wines brand.

The British wine retailer also posted a 6.3% rise in annual revenue, helped by strong performance in its online operations under the Naked Wines division. [https://reut.rs/2KmClJZ]

The company also said Greg Hodder will step down as chairman at the end of August and named of John C. Walden as non-executive director and chairman designate.

(Reporting by Karina Dsouza in Bengaluru Editing by Saumyadeb Chakrabarty)

((Karina.Dsouza@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6749 6373; Reuters Messaging: Reuters Messaging: karina.dsouza@thomsonreuters.com))

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