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Boutinot Wines could sell for 40m

Published:  23 July, 2008

Boutinot Wines, the UK wine merchant based in Manchester, may be sold for up to 40 million.

The company is looking for a buyer to purchase the business and has already appointed accountancy firm KPMG to study potential sales options, according to the Manchester Evening News.

Paul Boutinot, the 55-year-old company founder, expects the business to achieve between 30m and 40m with interest from trade buyers and private equity investors.

The company, which has achieved success with market favourites such as the Old Git and Old Tart brands, was founded in 1980.

Boutinot saw sales of 52m in 2007 and employs over 70 staff worldwide - its French base produces around 13m bottles a year.

In 2001, the company planned to list on the Alternative Investment Market but gave up on the idea following uncertainty with its Spanish trading partner.