CMS acts for Vagabond Wines on $3.4 million investment by leisure investor Imbiba

International law firm CMS has advised Vagabond Wines Ltd on securing a £3.4 million investment from specialist hospitality and leisure investor Imbiba. Vagabond Wines will use the funding to expand its business with six extra branches over the next couple of years.

Set up in 2010, Vagabond Wines runs pour-your-own bars in London – one of which includes an urban winery. Drinkers at its wine bars in Fulham, Clapham, Victoria, Charlotte Street and Battersea Power Station top up a payment card before serving themselves from a selection of more than 100 wines.

Vagabond founder and CEO Stephen Finch said: “When you’re doing a transaction of such importance, it really pays to have the best team on your side. David and the CMS team know the sector incredibly well, have a depth of experience from similar transactions, and demonstrated much needed creativity to get this deal over the line.”

CMS head of Leisure and corporate partner David Roberts commented: “It was great to work with a dynamic founder like Stephen. Given our past dealings with Imbiba on transactions like their investment in Drake & Morgan, we suspect they’ll be of great help to Stephen and his business.”

The CMS team was led by David Roberts with senior associate Sarah Wilson, corporate associate Lizzie Hunscott and corporate trainee Hannah Brash helping on the corporate side with Graham Chase (partner tax), Becky Stewart (association tax), Catherine Merry (senior associate share incentives).

CMS has one of Europe’s leading leisure practices. With longstanding clients operating in the restaurants, bars and pubs, private members clubs, health and fitness, cinema, travel, gaming, sport, theatre, entertainment and catering sectors, the firm’s hotels & leisure lawyers operate at the heart of the industry.

Specifically in bars and restaurants, CMS’ clients include concepts such as Hakkasan, Hard Rock Café, D&D London, Ignite, Hawksmoor, Daisy Green, Gordon Ramsey and Tom Aikens.