Majestic Wine has completed a rescue deal to purchase wine bar chain, Vagabond, from administration.

The Independent has reported that the acquisition will secure the future of nine Vagabond venues and 171 workers.

However, the Vagabond site in Canary Wharf has not been bought and will be closed, along with two sites at Gatwick airport.

The firm went into administration last month, with Andrew Andronikou and Brian Burke of Quantuma Advisory being appointed joint administrators.

As part of the acquisition, Majestic, which operates over 200 stores in the UK, said it plans to invest in Vagabond for the long-term, with the aim of opening more wine bars under the Vagabond brand.

Chief executive at Majestic Wine, 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."

Managing director at Vagabond, 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."

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