Electra Partners set to seal BWG takeover deal within days

BRITISH venture capital firm Electra Partners is expecting to finalise its purchase of BWG wholesalers within days.

The Pernod Ricard-owned BWG, which control the Spar chain, is expected to fetch about 220 million euro.

The wholesaler also owns the Bargain Booze off-licences chain in Britain; Spar convenience stores in the south-west of England and Mace in Northern Ireland. BWG was one of several businesses Pernod Ricard decided to dispose of after it bought Seagram’s drinks business with Diageo last year. Pernod took over BWG in 1988 following its acquisition of Irish Distillers, which had bought the operation in 1984. There had been speculation some months ago that BWG would fetch up to 300 million euro.