Takeover deal lined up for wine bar chain
A takeover deal is on the cards for Vagabonds Wines, after it appointed an advisory firm at the start of the month with hopes of safeguarding the business.
Majestic Wine is in advanced talks to buy the pour-your-own wine chain and a deal could be complete within days.
Vagabond has suffered from historic debts from the pandemic, the loss of the “highly successful Heathrow venue” in January, alongside cost pressures, which forced the firm to appoint Quantuma.
Stephen Finch, who left Vagabond at the beginning of the year established the brand in 2009. It’s grown to include 11 venues and secured backing from Imbiba, now Europe’s largest investor in social entertainment businesses, in 2018.
Vagabond opened its 10th site and first location outside of London in October 2021, when its 4,000 sq ft Birmingham bar began service on Bennetts Hill. With a capacity of more than 200, guests were able to self-pour a selection of 100 wines from around the world, including Vagabond’s own English Wines that are made in its Urban Winery in south-west London.
A Majestic spokesperson told TheBusinessDeskcom: “Majestic can confirm that it is exploring a deal to purchase all or part of the Vagabond Wines business.
“Majestic cannot comment further on ongoing discussions but we are hopeful of securing a deal.
“Since our acquisition by Fortress Investment Group in 2019, we have invested heavily in our growth plan, opening 16 new shops; hiring many new colleagues; supplying thousands of premium hospitality businesses through our B2B division; and training thousands of colleagues as one of the biggest wine educators in Europe.”
Vagabond has been contacted for comment.
