Majestic Wine to buy smaller rival, drops dividend

The wine retailer also said it would withhold final dividend for 2015 and interim dividend for the next year, sending its shares down as much as 12 percent. Majestic Wine, which faces competition from major supermarkets and discounters such as Aldi and Lidl, has appointed Rowan Gormley, founder and CEO of Naked Wines, as chief executive. Gormley replaces Steve Lewis, who stepped down in February …

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