Majestic in advanced talks to snap up Vagabond Wines
The deal will also include the addition of an urban winery located at Battersea Power Station
Majestic Wine, which is owned by Fortress Investment Group, is reportedly in advanced talks to acquire Vagabond Wines, according to Sky News.
The news comes after the London-based chain Vagabond Wines filed notice to appoint administrators earlier this month.
Vagabond Wines was founded in 2010 by Stephen Finch in Fulham. The group offers more than 100 wines by the glass from self-pouring machines.
Sky News reported that Majestic could strike a deal to buy the firm within days adding almost a dozen wine bars to its portfolio. The deal will also include the addition of an urban winery located at Battersea Power Station.
According to those familiar with the discussions, Majestic saw the two companies as complementary matches that could expand the buyer’s clientele by combining Vagabond’s product offering with Majestic Commercial, its on-trade supply segment.
A Majestic spokesperson told Sky News: “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.”
Retail Sector has contacted Majestic Wine and Vagabond Wines for comment.
