Majestic has entered into a formal agreement to acquire Enotria&Coe in a move which looks to turbocharge the retailer’s ambition to become one of the largest suppliers to the UK on-trade.
The combination, which was announced this morning, would accelerate Majestic’s strategic aim to become the UK’s pre-eminent supplier of wines, beers and spirits for its on-trade partners.
Majestic already has an on-trade specialist arm in Majestic Commercial. Enotria will continue to operate as standalone business following the acquisition, while Majestic looks to looks to create an enlarged, “highly competitive on-trade specialist with a best-in-class service and product proposition”. The acquisition would also allow for greater investment in technology, people and service across the two businesses.
Majestic CEO John Colley (pictured) said: “We are pleased to have entered into a formal agreement to acquire Enotria&Coe. It is a business we have competed against and admired for a long time, with a quality proposition and cultural values that align very closely with what we already do at Majestic. We believe this is a compelling strategic combination and can see huge potential to further enhance Enotria’s proposition and profitability as part of the Majestic group.”
Founded as Enotria Wines by Remo Nardone in 1972, Enotria&Coe has grown across all supply channels during the past two decades and now works with a range of more than 300 producers and over 200 exclusive agency brands. It bought Wheeler Cellars in 2008, Great Western Wine – now trading from its Bath shop as The Great Wine Co – in 2010, and Coe Vintners in 2015.
The new deal signifies Majestic’s confidence in its ability to further grow Enotria&Coe alongside its existing B2B specialist arm, Majestic Commercial.
Majestic Commercial has established itself as the fastest-growing division of Majestic since the business was acquired by Fortress Investment Group in December 2019. Majestic Commercial has delivered double-digit sales growth in each of the past three years.
Enotria&Coe CEO Julian Momen said: “This combination is fantastic news for Enotria&Coe colleagues, customers, our business and our future growth ambitions. From the initial approach and subsequent discussions with Majestic, it has been obvious to me that there is much to admire in their business and their growth. More importantly, we have a similar business ethos, and our behaviours and focus on people means that we are fully aligned on building a successful business together for the benefit of customers and suppliers.”