Home Business NewsBusinessBusiness Growth News Majestic buys Vagabond after falling into insolvency

Majestic has bought the wine bar chain Vagabond from administration after the company went into insolvency.

 Majestic confirmed they had completed the acquisition on Friday which will save 171 jobs, but they did not buy the Canary Wharf site as it is “underperforming.”

John Colley, chief executive of Majestic, 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.”

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