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Deal announcement - Virgin Wines

1 November 2013

Connection Capital and Mobeus have backed the highly experienced, incumbent management team of Virgin Wines, led by CEO Jay Wright, CFO Graeme Weir and Marketing Director, Paul Adams to acquire the business from Direct Wines Limited.

  • Total funding: £15.9m
  • Number of Connection Capital clients: 80
  • Investment date: November 2013
  • Sector: retail

The MBO comes at a time when the online wine market continues to expand, as many customers move to the convenience of purchasing their wine online. Virgin Wines, which was launched in 2000, is well positioned to grow in this market with a niche range of exclusive, boutique-quality wines and innovative customer loyalty schemes such as its WineBank scheme and its specialist wine plans, Discovery Club and JustREDS. It stocks around 600 wines and over 90% of its range is exclusive to the
business.

The company currently employs 158 people at its offices in Norwich and Preston.

This investment proved very popular with clients of Connection Capital and consequently was oversubscribed.

If you are interested in receiving more information about future investment opportunities and are not yet a client of Connection Capital, please contact Steve Wilson.

Contact Russell O'Connor
07760 282 586 or Email