UK wine retailer Majestic has entered an agreement to acquire local distributor Enotria&Coe.
The financial terms of the deal were not disclosed.
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Majestic said the deal would “accelerate” its goal “to become the UK’s pre-eminent supplier of wines, beers and spirits”.
In a statement, the company said it also expected the acquisition to enhance “value, choice and service for its on-trade partners”.
Set up in 1972, specialist distributor Enotria&Coe has a portfolio of more than 300 wine producers and over 1,500 spirits distillers. It serves on-trade, off-trade and DTC channels, with its customers including specialist bars, hotels, retailers and fine dining venues across the UK.
Through the deal, Majestic said it had “identified significant potential” to build Enotria&Coe “alongside” its on-trade supplier branch Majestic Commercial.
Majestic CEO John Colley said Enotria&Coe was “a business we have competed against and admired for a long time, with a quality proposition and cultural values that align very closely with what we already do at Majestic”.
He added: “We believe this is a compelling strategic combination and can see huge potential to further enhance Enotria’s proposition and profitability as part of the Majestic group.”
Both companies will continue running “as standalone businesses” following the transaction.
Julian Momen, Enotria&Coe’s CEO, said: “This combination is fantastic news for Enotria&Coe colleagues, customers, our business and our future growth ambitions. From the initial approach and subsequent discussions with Majestic, it has been obvious to me that there is much to admire in their business and their growth. More importantly, we have a similar business ethos, and our behaviours and focus on people means that we are fully aligned on building a successful business together for the benefit of customers and suppliers.”
Majestic, bought by US-based investor Fortress Investment Group in 2019, runs 212 retail stores in the UK and Jersey, having opened 22 new outlets since it was acquired.
It is looking to increase the size of its portfolio and Majestic Commercial division by 2030.
Last April, the business acquired local wine bar chain Vagabond Wines as it looked to reach a younger demographic of wine drinkers.
