Wells Fargo Capital Finance (UK) provided acquisition and working capital financing to funds managed by affiliates of Fortress Investment Group for the take private of Majestic Wine Warehouses – formerly part of Majestic Wine.
U.S. investment firm Fortress recently completed a £95 million ($124 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 ($72 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 customized 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 wine2 and we are looking forward to working alongside Fortress as they seek to grow Majestic’s presence in this mature market.”
Founded in 1980 and headquartered in Watford, UK, Majestic employs more than 1,000 staff.