Majestic has acquired wine bar chain Vagabond after it fell into administration earlier this month.
The deal will save 171 jobs and nine out of the chain’s twelve wine bars from closure, excluding its “underperforming” bar in Canary Wharf and two sites at Gatwick Airport.
The wine retailer said the transaction supports its growth strategy by building on its existing customer base and allowing it to engage with a younger demographic of wine consumers.
It added that it plans to invest in the long-term future of the Vagabond business, with ambitions to open more wine bars.
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Majestic CEO John Colley said: “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 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.”
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