search query: @author Gabb, A. / total: 30
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| Author: | Gabb, A. |
| Title: | Not so majestic. |
| Journal: | Management Today
1989 : MAY, p. 105-108 |
| Index terms: | RETAILING WINE INDUSTRY INTERNATIONALIZATION |
| Language: | eng |
| Abstract: | Cases of British companies spoiling acquisitions on the other side of the Atlantic are quite frequent. The exercise of buying into the USA market is a demanding one, even for a large group with broad experience of making acquisitions closer to home. But when a small, privately owned firm with low turnover makes a play for a company 16 times its size, with enormous sales, problems are inevitable - especially if the deal is highly leveraged. The story of Majestic Wine holds many lessons in how to succeed at drinks retailing in the UK - and how to fail in the USA. Englishmen's efforts were constrained by the need to meet very high repayments on the purchase debt. Mistakes have been made on the operational side, too. |
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