A major UK online wine retailer
Mobeus VCT Fundraising
Virgin Wines is the UK’s best-loved online wine retailer and believes life’s too short for boring wine. Since launch, Virgin has sold over 80 million bottles. And the team has won Online Drinks Retailer of the Year two years in a row at the Drinks Retailing Awards.
We led a syndicated transaction to support the MBO of Virgin Wines, and provided a combined debt and equity investment of £8.7 million as part of an overall funding package of £15.9 million. The ability to offer a full funding package which provided a high level of deliverability was key to securing the transaction with the vendor. We worked alongside a co-investor in a seamless way to deliver the deal.
Our deal structure, with no external senior debt, has allowed the company to invest in a new website, direct marketing, new customer acquisition channels and propositions, and grow a gift and corporate business from scratch.
The online wine market continues to expand, as more customers move to convenience. Virgin Wines has continued to grow with a niche range of exclusive, boutique quality wines, bought based on customer ratings, and backed by the power of the Virgin brand.
“The combined debt and equity package took pressure off from a cashflow perspective and allowed us to invest in exciting new initiatives like our gift business.”
Virgin Wines, CEO