Vintage Cellars attracts equity buyers to Coles

 In Australia, Coles, NewZealand
The Wesfarmers-owned Coles supermarket and liquor group has received approaches from private equity buyers wanting to buy the Vintage Cellars liquor chain for up to $300 million.
It is understood the approaches have been made in the past few days and involve splitting off the Vintage Cellars chain, in a clean sale, from the larger Coles liquor division.
Vintage Cellars operates 77 stores around Australia and has been battling to make headway with its smaller stores in a highly-competitive market increasingly dominated by superstores like Dan Murphy’s, owned by Woolworths.  Sydney Morning Herald – Read more…

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