Wine merchant raises glass to BIMBO
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 and supplies hotels and restaurants across the North.
Over the next 12 months it plans to open a second shop in the North West and set up more restaurant supply agreements.
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.
