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Naked Wines completes £95M Majestic Wine sale

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Naked Wines completes £95M Majestic Wine sale

Naked Wines PLC said Dec. 10 that it has completed the sale of its Majestic retail and commercial businesses comprising Majestic Wine Warehouses Ltd. and Les Celliers de Calais SA.

The British alcoholic beverages retailer announced the sale of the businesses for £95 million to Fortress Investment Group LLC-owned CF Bacchus Holdings Ltd. in August. At the time, the company, formerly Majestic Wine, said it plans to use the proceeds from the divestment to pay down its debt and to invest in the growth of its Naked Wines online wine retail business.

Following the transaction, the company said Naked is now a single brand and pure-play online business.

Naked Wines said the company will pay a special dividend to the level of the fiscal year 2018 final dividend of 5.2 pence per share. The group said it will confirm the timing of the dividend payment soon.

The company's stock closed down 0.93% to 213 pence in London trading.