Majestic acquires wine bar chain Vagabond out of administration
Majestic Wines has acquired wine bar chain Vagabond following its fall into administration in March.
The acquisition will prevent the closure of nine of Vagabond’s 12 bars, however an underperforming site in Canary Wharf and two bars in Gatwick Airport not be rescued.
Founded in 2010, Vagabond allows customers to choose from a variety of wines from self-pouring machines. The operator appointed administrators from Quantuma Advisory in March.
Majestic CEO John Colley said the transaction marks the start of a long-term partnership, and that the retailer is committed to investing in the Vagabond business, with the potential to open new bars across the UK “when the right opportunities arise”.
Matt Fleming, Vagabond managing director, added: “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.”
Majestic was bought by private equity firm Fortress in 2019 and now operates over 200 stores nationwide.