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Oddbins Sold
07/08/2008
Oddbins, the UK-based chain of wine shops, has changed hands for an undisclosed sum, the Daily Telegraph reported. The report quoted Simon Baile, who headed the consortium that acquired Oddbins. Baile said Oddbins needs work, the article noted.Castel Freres, the French wine company, was the vendor. Castel paid GBP 57m (EUR 71.9m) for the company in 2001, but has since closed down outlets. The sale price this time is likely to be less than that paid by Castel in 2001, the article added.The deal includes Oddbins and the group’s 158 UK and Ireland stores, according to the report. Oddbins reported a GBP 8.6m loss for the year to the end of 2006, the item said, citing Oddbins’ most recent filings. Oddbins had sales of GBP 121.3m, the report concluded.

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