Matthew Clark sells Forth Wines

Drinks wholesaler Matthew Clark, partly owned by Punch Taverns, has sold its Scottish wine merchant business Forth Wines to a group of senior licensed trade figures.

Matthew Clark acquired Forth Wines in 2001 and it has become Scotland's largest specialist wine merchant.

George Thomson, Ewen Cameron and Ian Cumming, who between them have clocked up nearly 85 years in the industry working for the likes of S&N (now Heineken), Diageo, WaverleyTBS and First Drinks, have bought the business together with finance expert Alan Cramond for an undisclosed sum.

The acquisition has been backed by The Royal Bank of Scotland and a small syndicate of private investors.

Thomson will take up the role of managing director. "This acquisition gives us the platform to build on the already successful foundations at Forth Wines, while each taking a financial stake in the business," he said.

"Putting our money where our mouth is greatly appeals to us all and we have found an established business that allows us to do that. Forth Wines, which will have served the trade for 50 years in 2011, was one of those rare opportunities just too good to pass up. Seeing the business return to Scottish ownership is an added bonus."

Steve Thomson, Matthew Clark's managing director, said: "It was a difficult decision, but we are confident this deal will allow us to concentrate on other areas within our business, while remaining committed to the Scottish market, with our Glasgow and Dundee operations."

Forth Wines' 51 staff will automatically transfer to the new owners and the business will continue to operate out of its offices in Milnathort, near Kinross in Scotland.