Matthew Clarke sells Forth Wines

Matthew Clarke, the drinks distributor, has sold its Forth Wines business to a consortium of ex-trade figures for an undisclosed sum.

Backed by RBS and a team of private investors, George Thomson, Ian Cumming and Ewen Cameron have all had long established careers in the likes of Diageo, WaverleyTBS and Scottish & Newcastle.

Thomson, who becomes managing director of the new business, said the new owners were "putting our money where our mouth is".

"Over the many years of working in the industry, we've built up an intimate knowledge of the needs of our customers. We'll be focusing on that to grow the business into one which has an unrivalled wine portfolio and which has customer service and support at its heart.

"We look forward to working with the team at Forth Wines to develop the business and are grateful to our investors who have shown faith in us and in the company," he added.

Steve Thomson, managing director of Matthew Clarke, said selling the business 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.

"We are pleased that all employees will automatically transfer, with the exception of managing director, Kenny Gray, who will pursue a senior role within the Matthew Clark business."

Forth Wines predominantly supplies wines and spirits to Scottish restaurants, pubs and clubs but has UK agency and distribution rights over some wines.

The company's 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.