UK wine retailer Majestic Wine is in talks to buy local bar operator Vagabond Wines.
Vagabond Wines operates an “urban” winery located at London’s Battersea Power Station, plus nine wine bars in the city, with two additional on-premise venues in Birmingham and at Gatwick Airport. It also produces its own range of wines under the brand Vagabond Winery.
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However, at the start of the month, Vagabond Wines filed a notice of intent to appoint administrators at the start of the month.
“Majestic can confirm that it is exploring a deal to purchase all or part of the Vagabond Wines business,” a spokesperson for Majestic said.
The group added it cannot comment further on ongoing negotiations but that it is “hopeful” of securing the deal.
Majestic said if the deal goes through it would look to grow Vagabond’s customer base and “elevate” the bar group’s current product offering through its on-trade supply division Majestic commercial.
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By GlobalDataVagabond was founded in 2010 by UK entrepreneur Stephen Finch. He left the company in December.
In Vagabond’s most recent financial results for the year ended 27 March 2022, it posted revenue of £7.4m ($9.4m), with a gross profit of £5.2m.
Majestic was bought by US-based investor Fortress Investment Group in 2019 for £95m.
Two years later, the Fortress Investment Group acquired UK pub estate, Punch Pubs & Co., from Patron Capital Partners. That deal saw the group take on 1,300 on-premise sites in the UK.
