Investment firm acquires Waverley

09 July, 2010

Heineken has sold its wholesale division Waverley TBS to investment firm Manfield Partners to focus on its core brewing business.

Manfield’s team of partners includes Jeremy Blood, former managing director of Scottish & Newcastle.

Stefan Orlowski, managing director for Heineken UK, said: “The sale enables us to better concentrate attention on our core business and to focus investment behind our brands.

“For Waverley, the new owner will be well placed to develop the business further, bringing the focus and strategic direction that will come from independent operation.”?A new board structure will be put in place which will involve members of both the Waverley and Manfield management teams.

Mark Gerken has stepped down from his role as chairman of Waverley.

Waverley subsidiary United Wine Merchants, operating in Northern Ireland, is not included in the sale.

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