The Oddbins chain has been sold to specialist wine and food retailer Ex Cellar for an undisclosed sum in a surprise deal announced today. Ex Cellar was founded in 1999 by Henry Young and Simon Baile, the son of former Oddbins managing director Nick Baile, who headed up the company in 1973.
Currently, Ex Cellar has two retail outlets in Ashstead and Paris.
The Oddbins senior management team, including Ayo Akintola, HR Director, will remain in their positions. Previous managing director and deputy managing director, Fabrice Bidault and Eudes Morgan, will be replaced by Young as chairman and Baile as managing director.
Baile said: “This is an exciting opportunity for us – Oddbins is a renowned name on the British high street. Our retail background and my knowledge of what used to make Oddbins great will help drive the passion and innovation back into this business. There will be a short period during which we review the current structure and develop plans for the future. This is a cash positive business with plenty of stock, great locations throughout the UK and passionate staff.”