MAJESTIC BUYS THE WINE & BEER COMPANY
Majestic Wine has bought Les Celliers de Calais SA, which trades under The Wine & Beer Company name, for approximately 7.25 million, subject to net current assets at the date of a completion balance sheet. Majestic is getting four warehouses: two in Calais, one in Cherbourg and one in Le Havre. Last year The Wine & Beer Company turned over 10.8 million with a pre-tax profit of 1.49 million. The value of net assets being bought is approximately 320,000. Majestic has announced a 13.1% increase in like-for-like sales for the 26 weeks from 3 April to 1 October, over the same period last year. Chief executive Tim How said: The acquisition gives us a substantial business selling to British visitors taking advantage of the lower duty rates in France.'
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56-58 Church Walk, Burgess Hill, West Sussex, RH15 9AN
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