The Business
Virgin Wines works with its network of trusted suppliers and winemaking partners from around the world to source, design, blend and sell award-winning and largely exclusive premium wines. These wines are sold through its WineBank and Wine Plan subscription schemes and on a pay-as-you-go basis. The Group also operates B2B and gift sales channels and recently expanded its product offering to include carefully curated collections of premium spirits and craft beers.
The Original Deal
Mobeus invested £8.7 million in Virgin Wines in 2013.
The IPO
Mobeus supported the Initial Public Offering of Virgin Wines on AIM. The offering was substantially oversubscribed, attracting strong interest from quality institutional investors. The market capitalisation of Virgin Wines at the time of Admission, based on the Placing Price of 197 pence per share, was approximately £110 million. The Mobeus VCTs own approximately 36.1% of the issued Ordinary Shares.
The Impact
Virgin Wines now has the platform to execute its ambitious growth plans, as it leverages key strengths to continue to win market share and drive shareholder value. Mobeus VCT Shareholders retain access to future growth from this distinctive, direct-to-consumer business, set to benefit further from the shift to convenience.