Cheers – De Vere sells Greenalls distillery for £7.5m

HOTEL and leisure group De Vere Group has sold its Warrington-based vodka distillery for £7.5m.

The G&J Greenalls business has been acquired by its management team led by MD Christian Rose, De Vere said.

Experienced businessmen and private investors Enzo Visone and Warren Scott have bought in to the company and have become non-executive directors. 

Greenalls distills gin as well as vodka at the site and products are exported worldwide. Sales in the year ended 31 December 2010 were £46m.

Founded in 1761 the business produces some 50% of the gin and vodka consumed in the UK and is seeking to become the largest distiller of the drinks in the country.
 
Late last year it invested £250,000 in expanding its production line.

De Vere said : “This disposal is in line with the group’s strategy of disposing of its non-core businesses. 

“The group is focused on delivering further improved trading performances from its core hotels, venues, and leisure businesses – De Vere Village, De Vere Venues, and De Vere Hotels.

“The net sale proceeds will be invested in the rolling investment programme in place for the group’s portfolio.”