Farr Vintners buys Magnum Fine Wines19th August, 2014 by Lauren Eads
London-based fine wine merchant Farr Vintners has purchased fellow London merchant Magnum Fine Wines following the retirement of its owner.
The merger comes following the retirement of Alan Rayne after 29 years at the helm of the fine wine merchant.
Rayne announced the sale of the company by posting a message on its website which read: “After a very enjoyable 29 years in the wine business I have decided to retire. We have sold the company to one of the largest and most reliable fine wine companies in the UK, Farr Vintners Ltd.”
In 2004 Rayne was awarded the “Commandeur d’Honneur of the Grand-Maitre de L’Ordre Du Bontemps” for his work promoting the wines of Bordeaux, an honour awarded every two years by the region’s top Chateaux.
Farr Vintners, like Magnum Fine Wines, holds all of its stocks and customer reserves in the underground cellars of Octavian Vaults – an arrangement that will continue.
In a letter to customers, Stephen Browett, chairman of Farr Vintners Ltd, said: “I have known Alan for nearly 30 years and feel very honoured that he has chosen to entrust Farr Vintners to look after his customers and their wine portfolios in the future. Alan is rightly proud of the business that he has built up and a key part of his decision to pass the company on to Farr Vintners was that he knows that his customers will continue to receive exemplary and professional service.”
Over the last five years Farr Vintners, based in Battersea, south London, has sold nearly £600 million worth of fine wine and now claims to be the world’s leading fine wine wholesaler.
Magnum Fine Wines will be integrated with Farr Vintners over the coming weeks.