The British online wine retailer Virgin Wines is planning its debut on the London Stock Exchange at the beginning of March. As reported by the Financial Times, Virgin Wines is approaching the IPO with a targeted enterprise value of 100 mill. British pounds (approx. € 115 mill.).
According to its own information, the company has 169,000 active customers, most of whom subscribe to wine. With the capital from the IPO, the company wants to invest in growth opportunities, especially in the beer and spirits sectors, and reduce debts. No information is known yet about the amount of the expected capital inflow.
In the second half of 2020, Virgin Wines increased its turnover by 55 per cent year-on-year to £40.6m, generating an EBITDA profit of £4.5m.
In 2013, Virgin Wines was acquired in a management buyout for 15.9 mill. pounds by Direct Wines, which in turn had acquired the business from Virgin in 2005.