Fortress co-CEO dies aged 51
Josh Pack, the co-CEO and managing partner of Fortress Investment Group, which owns Majestic Wine, has died unexpectedly, at age 51.
His death was announced by Fortress, which also counts Loungers ltd and Punch Pubs in its portfolio.
Pack, who was also a board member of Majestic, spent more than 23 years at the US private equity firm, and was a “devoted husband and father”, the company said in a statement.
“We are devastated by this loss. Joss was a gifted investor, a thoughtful strategist, a compassionate leader – and a deeply cherished friend to many,” the statement added.
A cause of death was not provided.
Career history
Before joining Fortress, Pack served as a vice president at Wells Fargo, and had previously attended the United States Air Force Academy.
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Fortress, which is majority-owned by Abu Dhabi’s Mubadala investment arm, was founded in 1998, and manages USD$53 billion worth of assets.
Majestic Wine’s commercial and retail business was sold to Fortress for £95 million in 2019. The sale included all but one of its stores, and its company’s website, along with the commercial on-trade business, the French division, Les Celliers de Calais, and Majestic’s HQ.
Majestic deal
A spokesman told db that after nearly forty years of trading, the Majestic name came “closer than ever before” to disappearing. “We’re determined not to let that happen again, to continue to be the nationwide specialist we truly believe the UK needs – the vital bridge between indies and supermarkets, and a pivotal route to the British market for producers across the globe,” he said.
In 2021, Fortress agreed a deal to buy UK-based operator Punch Pubs & Co for an estimated £1bn.
Curzon Cinemas, Poundstrecher and Bargain Buys are brands that are also owned by the US bank.
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