Latest round of Vindependents share options support growth

By Andrew Catchpole

Published: 07 March, 2019

Members of the independent merchant-owned Vindependents have voted to issue a new round of share options in the company, allowing new members that take up the offer to have a say in how the buying group is run.

The Vindependents, which has a portfolio of agencies exclusive to and decided upon by its indie members, has ambitions to grow that membership from the current 36 to 50, with the most recent addition, Caruthers and Kent in Newcastle, likely to be followed by two more if and when applications are approved.

All founding members of Vindependents were allocated options when the group was founded, with further options pools of 20% divided between members in both December 2016 and 2018, distributed according to the percentage of Vindependent sales a given indie had achieved.

“Our existing members already own options in their business, which means they have ownership of the business and can have a say in how it is run,” founder Jessica Hutchinson told Harpers.

“A further option allocation period means that new members who have joined us recently, or who join us in the next two years can also benefit from earning options. It means the company can grow and get more valuable which is good for all the members [and] also means that any new members will be on an even footing with existing members in terms of having a stake in the company.”

In addition to new members, Vindependents has recently added grower Champagnes, in the shape of fourth generation Champagne Delavenne from Bouzy and Champagne Lété-Vautrain from the Marne Valley, to its portfolio.

“We’ve been looking for really good grower champagne for quite some while, but until now nothing has met the high standards that we and our members are looking for. So we were thrilled when we discovered these two growers who fit really well with our ethos of buying the best wines we can, made by talented people, at the right price,” said Hutchinson.

The Vindependents group, which is open for membership to all independent wine and spirit merchants with a physical shop, imports direct from over 120 producers spread across 62 wine regions, with the aim of delivering good value for its members by allowing them to retail at a sensible margin. It has more recently begun to add premium spirits to its portfolio.

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