This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
News
Buyers circle Lay & Wheeler
With Majestic now sold off, buyers are now circling another of Naked Wines’ divisions being off-loaded – Lay & Wheeler.
The sale of the commercial and retail business of Majestic Wines was confirmed at the beginning of August, sold to Fortress investment group for £100 million.
Now it is believed that Naked Wines is organising a sales week for fine wine merchant Lay & Wheeler, which is expected to fetch around £10m, as it continues to hone on in on CEO Rowan Gormley’s wish to become a dedicated online operation.
There are understood to be several interested but largely undisclosed parties after Lay & Wheeler though Sky News recently named Michael Spencer, chairman and part-owner of BI Wines & Spirits, as one of them.
Spencer bought a 25% stake in Battersea-based distillery Westmorland Spirits in 2017 and is also an investor in English winery Chapel Down.
BI declined to comment on the speculation.
Why would anyone pay £10 million for Lay & Wheeler? That price would make no sense whatsoever.