Wine merchant changes hands
WINE merchant Good Italian Wine has changed hands following a buy in management buyout (BIMBO) valued at £35,000.
The company, which supplies wines from artisan producers from across Italy, has been rebranded as Allsop & Hardy Wine Merchants.
It has a wine shop in Settle, North Yorkshire, and supplies hotels and restaurants across the North including Rosso and The Northern Quarter in Manchester.
Over the next 12 months it plans to open a second shop in the North West and set up supply agreements with more restaurants in the Manchester area.
Managing director Robert Bagot said: “We are aiming to increase our turnover to £300,000 by the end of this financial year with the goal of hitting a million in two to three years time. We have the expertise and the quality to do this, even in a very tough market place.”
Stephen Attree, partner and head of corporate and commercial at Myers Lister Price Solicitors in Altrincham, acted for the purchaser and management team in the deal.
