UK: Matthew Clark sells Forth Wines
Forth Wines becomes independent
Drinks distributor Matthew Clark has sold its Forth Wines merchant business to a consortium of trade professionals for an undisclosed sum.
Scotland-based Forth will be picked up by a consortium led by George Thomson, Ewan Cameron and Ian Cumming, alongside financial expert Alan Crammond, the group announced today (4 August).
Thomson, Cameron and Cumming have collective experience in the drinks industry, having worked for firms including Scottish & Newcastle, Diageo, WaverleyTBS and First Drinks. Financial details behind the deal were not disclosed by either party.
The consortium announced that it would retain all 51 Forth Wines staff, apart from MD Kenny Gray, who will be relocated to a position within Matthew Clark. Forth Wines will continued to operate out of Milnathort, near Kinross in Scotland.
Steve Thomson, Matthew Clark's MD, said: "It was a difficult decision, but we are confident this deal will allow us to concentrate on other areas within our business, while remaining committed to the Scottish market, with our Glasgow and Dundee operations."
Forth Wines has risen to be a leading supplier of specialist wines in Scotland after being acquired by Matthew Clark in 2001.
"This acquisition gives us the platform to build on the already successful foundations at Forth Wines, while each taking a financial stake in the business," said George Thomson. He is to become the new MD of the merchant.
Forth Wines predominantly supplies wines and spirits to Scottish restaurants, pubs and clubs. But, it has UK agency and distribution rights over some wines.
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