Majestic acquires Vagabond Wines out of administration
Majestic has acquired Vagabond Wines out of administration in a move that will save 171 jobs and nine of the company’s 12 wine bars from closure.
However, Vagabond’s underperforming bar in Canary Wharf and its two sites at Gatwick Airport were not included in the deal.
Majestic said the acquisition will help to grow its customer base, attract a younger demographic of wine consumers, and enhance its B2B business.
The retailer is planning to invest in the long-term future of Vagabond which will include the the opening of more wine bars.
Majestic chief executive John Colley said: “The completion of this deal marks the start of a long-term partnership and we are committed to investing in the Vagabond business, with the potential to open new wine bars across the UK when the right opportunities arise.
“The combination of the two businesses presents exciting new opportunities for us to grow our customer base, take the Majestic brand to a younger audience and further elevate Vagabond’s product proposition by working alongside our fast-growing on-trade supply division, Majestic Commercial.”
Majestic regards the deal as a vote of confidence from both itself and Fortress Investment Group in the future of experiential retail and hospitality.
Since being acquired by Fortress in December 2019, Majestic has opened 16 new stores and wants to launch an average of one new shop every month over the coming years. It is also aiming to become one of the UK’s biggest suppliers to the on-trade and hospitality sectors within the next five years.
Founded as a single wine shop in Fulham in 2010, Vagabond has since grown into a chain of wine bars that offer more than 100 wines by the glass, which customers order using innovative tap-and-pour self-serve wine machines. The sites also host regular events, including cheese and wine masterclasses, and are available for corporate bookings.
Vagabond managing director Matt Fleming said: “In Majestic, we believe we have found the perfect partner to enhance the unique strengths of the Vagabond business and drive a new phase of profitable growth.
“We are looking forward to working with the Majestic team to accelerate our expansion, and help even more wine consumers to discover new and interesting wines.”
