Specialist wine retailer Ex Cellar has acquired Oddbins for an undisclosed sum. The acquirer bought the struggling retailer from Nicolas UK.

Specialist wine retailer Ex Cellar has acquired Oddbins for an undisclosed sum. The acquirer bought the struggling retailer from Nicolas UK.

Co-founded by Simon Baile, son of former Oddbins MD Nick Baile, Ex Cellar is set to take over all 158 shops and its stock.

A team of 12 solicitors at Linder Myers, led by Paul Willan, partner, acted for the acquirer to help complete the deal by 1 August, having been instructed only two weeks previously. The firm said this was “an achievement given the timescales and Oddbins’ large network of shops and several hundred staff”.

Mazars provided financial, accounting and tax support to the vendor. The team was led by David Herbinet, partner, and Cecile Commecy, manager, with the support of Jim Jooma on tax.

The team’s understanding of the issues surrounding such a transaction in an Anglo-French environment was critical to the success of the transaction.

Saffery Champness Corporate Finance provided the incoming team with assistance on financial matters. The team was led by Mike Di Leto, partner, and Andrew Cremin, director.

Di Leto said: “The management team’s knowledge of the industry, coupled with its management expertise will provide a shot in the arm to the fortunes of this brand.”

The vendor was advised by a team from Cripps Harries Hall LLP, led by partner and head of French corporate group Olivier Morel. Eudes Morgan de Rivery, former Oddbins deputy MD, said: “They worked hard to ensure we met a tight deadline in a challenging transaction, which is of strategic importance for Castel Group.