Wine retailer Majestic has bought Vagabond out of administration, saving nine of its bars from closure.
The deal saves 171 jobs at Vagabond, but does not include an underperforming bar in Canary Wharf, and two sites at Gatwick Airport.
The deal enables Majestic to engage with a younger demographic of consumers, with the company committing to investing in the long-term future of the business and open more wine bars when the right opportunities arise.
The announcement follows a period of uncertainty after the business went into administration last month. The terms of the deal were not disclosed.
Vagabond was founded by Stephen Finch as a single wine shop in Fulham in 2010 and has since grown into a chain of wine bars focused on discovery and experience, with the backing of Imbiba.
Its bars offer more than 100 high-quality wines by the glass, which customers can order in different volumes using innovative tap-and-pour self-serve wine machines.
Majestic has been backed by Fortress Investment Group, which also backed Punch Pubs & Co, since 2019.
During the past four years, Majestic has opened 16 new stores, and expanded its premium B2B division, Majestic Commercial, with a goal to become one of the UK’s biggest suppliers to the on-trade and hospitality sectors within the next five years.
Majestic Commercial supplies more than 3,000 venues across the country, with customers including Manchester City Football Club, The Lucia Group, Deben Inns, London Shuffle Club and JCB Golf and Country Club.
Majestic CEO John Colley said: “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. 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.”
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. 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.”
