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This investment enables Majestic to broaden its product portfolio and expand its customer base in Wilmington and along the coastline from Jacksonville, North Carolina to Myrtle Beach, South Carolina.
Majestic expects to complete the acquisition by January 2, 2018, with full integration by March 1, 2018.
In addition, Majestic offers unique items in the dental health, shaving needs and sexual enhancement categories, Oyola says.
Majestic Wine said it is reviewing its commercial arm, which supplies wine to businesses, after seeing sales growth flat-line and profit margins come under pressure as the first half of the year proved "even more challenging".
Majestic became a second-generation company when Larry Fishman joined in 1970 as vice president.
As well as exploring the beautiful countryside The Majestic Hotel also offers special golfing breaks with two courses close by - Harrogate and Pannel.
The landmark agreement means that Wasps, the professional rugby union club and owner of the Ricoh Arena, one of the UK's leading sports, business and entertainment arenas, has become the first rugby club to secure such a deal with Majestic Commercial.
He said: "It is obvious that we need to make investments to reinvigorate Majestic Wine.
The Majestic boasts an elegant and aesthetically pleasing look that will fit in seamlessly with the decor of any home.
I am confident that First Majestic will achieve even greater success in the future and wish to extend my best wishes to management and the Board as well as all the staff.
Majestic Steel USA will operate Flatrolled Steel, Inc under the Majestic Steel name.
Dino Longueira of Majestic Arms came up with a better solution.