Majestic Wine in talks to buy Vagabond Wines - report

19th Mar 2024 12:58

(Sharecast News) - Majestic Wine is reportedly in advanced talks to buy Vagabond Wines, the London-based chain that filed notice of its intention to appoint administrators earlier this month.

According to Sky News, Majestic - which is owned by Fortress Investment Group - could strike a deal to buy Vagabond within days.

The deal would add roughly a dozen wine bars to Majestic's portfolio, as well as an urban winery located at Battersea Power Station.

Vagabond was launched in Fulham, southwest London, by Stephen Finch in 2010.

Its bars allow oenophiles to order more than 100 wines by the glass from self-pouring machines.

Sources close to the talks told Sky that Majestic regarded the two businesses as a complementary fit, with the opportunity to grow the buyer's customer base by marrying Vagabond's product proposition with its on-trade supply division, Majestic Commercial.

A Majestic spokesperson said: "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."