SOLD TO:

Milton Sandford Wines Ltd

INDUSTRY:

Food and Drink

Secret Cellar was an award-winning independent wine merchant with several branches in the UK, as well as a global presence though its online operation.

With a young family to raise, husband and wife team, Mike and Jo Watson, previous owners of The Secret Cellar felt the time was right to step down from the day-to-day running of their business. They contacted Avondale to find a buyer capable of driving the business forward into its next phase of growth. Once on board, Avondale began strategically marketing the company to prospective buyers.

Avondale’s efforts returned a high volume of interest from a range of prospects, including both trade buyers and private entrepreneurs. Through a discreet enquiry, we were able to add a previous contact who we had supported make a successful acquisition project. Now the owner of a leading wine supplier the potential buyer was attracted by the clear synergies of a merger with The Secret Cellar and keen to diversify and expand his business by adding complementary services.

Having arranged a preliminary introduction, Avondale led the negotiations between the buyer and the Watsons, and was able to secure excellent terms for both parties. The transaction, from launch to completion, took six months, and The Secret Cellar has now become a key part of the acquirer’s long-term growth strategy.

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