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Wholesaler Metcash has been sounded out to join a consortium that has approached Coles about a possible sale of the Vintage Cellars chain, The Australian Financial Review reports.

According to the newspaper, the grocery and alcohol wholesaler's warehousing and distribution channels would be key to the supply chain for a new owner of the liquor brand.

The news follows reports Wesfarmers-owned Coles had received private equity approaches seeking to buy the chain for up to $300 million.

But some industry sources have dismissed the likelihood of a deal as “rubbish”, The Australian reported.