An activist investor has backed Majestic Wine’s plan to offload its entire retail business.
Gatemore Capital, which has previously agitated for change at French Connection, has disclosed a stake of almost 4% in the company, making it a top ten investor, after steadily amassing shares since the start of the year.
Majestic, which is now led by Naked Wines founder Rowan Gormley, said at the start of this month it was nearing a £100m sale of its entire UK store estate as it focuses to its flourishing online business. Buyout firm OpCapita, run by Henry Jackson, has been linked to the sale.
