UK: Retailer Bargain Booze sold in GBP65m deal
UK private equity group ECI Partners has bought discount alcohol retailer Bargain Booze, for GBP63.5m (US$112m).
ECI has bought Bargain Booze, which runs almost 600 stores throughout in the Midlands and the north-west of England on a franchise basis, from Irish food distribution and retailing business BWG Group today (16 January).
ECI said it was "backing the existing management team" including joint MDs Tim Stanley and Matthew Hughes plus finance director Peter Hodgson. ECI has also introduced Roger Pedder to the deal as chairman.
The private equity group added that it would continue to open a Bargain Booze store every week for the foreseeable future.
BWG said that it has sold the business to focus on its core retail business in Ireland and the UK.
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