Private player leads Unwins sale
UW Acquisitions signs heads of agreement
A new bidder is close to winning the auction for off licence chain Unwins, put up for sale earlier this year by its family owners.
UW Acquisitions, a takeover vehicle understood to be backed by a number of private investors, has signed non-binding heads of agreement, putting it in pole position to acquire the 388-strong off-licence chain.
French drinks group Castel, which already owns the UK Oddbins chain, has been in protracted negotiations to acquire Unwins, and until now was seen as the front runner.
Unwins is owned by 86 descedents of founder Michael Wetz. UW Acquisitions is thought to have links with Australian wine company Palandri, whose directors include family member and former Unwins managing director Philip Wetz.
A spokesman for UW Acquisitions described Unwins as a “mature but attractive business with potential for cash generation and solid asset backing”.
