Majestic completes rescue deal for wine bar chain Vagabond Wines

Majestic said the deal will save nine of Vagabond’s wine bars from closure as well as 171 jobs, after “a period of uncertainty”.

The deal is set to support Majestic’s growth strategy and allow it to “engage with a younger demographic of wine consumers” as it bolsters its customer base.

Majestic pledged to invest in the future of Vagabond and wants to open more wine bars, leverage customer relationship management (CRM) capabilities and develop its offering of qualifications to colleagues and customers.

The specialist wine retailer added that the deal also represents “another vote of confidence” in experiential retail and hospitality offerings from Majestic and its investor Fortress.

Vagabond’s Canary Wharf-based bar and two of its sites at Gatwick Airport have not been included as part of the acquisition.

Majestic chief executive 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.”