June 13, 2019 / 6:15 AM / 3 days ago

Majestic Wine says retail business sale talks in advanced stage

June 13 (Reuters) - Majestic Wine said on Thursday it was in advanced talks over a potential sale of its retail and commercial outlets as it looks to focus more on its fast-growing Naked Wines brand.

The British wine retailer also posted a 6.3% rise in annual revenue, helped by strong performance in its online operations under the Naked Wines division. [reut.rs/2KmClJZ ]

The company also said Greg Hodder will step down as chairman at the end of August and named of John C. Walden as non-executive director and chairman designate. (Reporting by Karina Dsouza in Bengaluru Editing by Saumyadeb Chakrabarty)

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