Following from recent news of Majestic Wine's plans to streamline its business to focus on Naked Wines, it has been announced that Naked has sold fine wine merchant Lay & Wheeler for £11.3m. Founded in Colchester in 1854, Lay & Wheeler is one of the country's oldest wine merchants. It was bought for £6m by Naked Wines in 2009, and will now change hands to Coterie. Its warehouse and storage subsidiary Vinotheque is also included in the deal.
