Majestic changes direction to expansion with the completion of its sale to Fortress Group
Private equity firm Fortress Investment Group LLC has completed the £95 million purchase of all Majestic stores and plans to keep open its 190 stores.
Under its previous leadership, Majestic had been set to close up to 140 of the 190 stores as funds were set aside to drive growth of the loss-making Naked Wines business. With new owners Fortress, the plan is to grow the business and they have already identified a new site for their first new store opening. In the end only one of the Majestic stores was closed to make way for redevelopment.