Majestic buys Vagabond out of administration
Majestic buying Vagabond Wines saves nine bars from being closed.
The UK’s largest specialist wine retailer has bought Vagabond Wines out of administration, saving nine of its wine bars from closure.
The strategic acquisition by Majestic follows a period of uncertainty for Vagabond, after the business went into administration last month.
Majestic says its partnership with Vagabond will further support its growth strategy by building on its existing customer base and allowing it to engage with a younger demographic of wine consumers.
It plans to invest in the long-term future of the Vagabond business, with ambitions to open more wine bars, leverage its CRM capability and further develop both company offerings of Wine and Spirit Education Trust qualifications for colleagues and customers.
"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," says Vagabond managing director Matt Fleming. "Vagabond’s bars help our customers discover unique, quality wines in a highly experiential setting – values that align perfectly with what Majestic’s colleagues do every single day in their stores.
"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."
Vagabond's journey
Vagabond was founded as a single wine shop in Fulham in 2010 and has since grown into a chain of wine bars known for their use of technology.
Its bars offer more than 100 wines by the glass, which customers order using tap-and-pour, self-serve wine machines.
The Vagabond deal represents another vote of confidence from Majestic and its investor Fortress Investment Group in the future of experiential retail and hospitality offerings.
"We are delighted to have secured this partnership with Vagabond Wines and are looking forward to working with the team to share our collective passion, expertise and love of wine," says Majestic CEO John Colley. "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."
You may also be interested in…
