Jeroboams Group acquires Davy’s storage

By James Bayley

Published: 07 November, 2024

The Jeroboams Group has announced the acquisition of another in-bond storage facility, bolstering its leadership in the fine wine and private client market.

The independent, London-based business, founded in 1985, has been actively pursuing investment opportunities to grow this sector. In line with this, an agreement with Davy & Co has been reached, transferring Davy’s fine wine storage, broking and En Primeur services to Jeroboams Group.

Over the past four years, Jeroboams has invested heavily in expanding its private client, on-trade and wholesale divisions. This latest acquisition aligns with the company’s strategic commitment to the fine wine sector, enhancing its service offering for customers seeking secure wine storage and broking.

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Davy & Co, a 154-year-old family business trading as Davy’s Wine Merchants, will continue its trade and private customer fine wine supply but will divest its private customer wine storage business along with related ex-cellar sales. The partnership marks a significant realignment for Davy’s, with Jeroboams becoming the recommended storage provider for Davy’s customers wishing to store wines professionally.

Matt Tipping, CEO of Jeroboams, said: “We are pleased to further extend our core storage service so that we grow in line with our ambitious projections for the direct-to-consumer and fine wine categories. Our business has many synergies with Davy’s – we are family-owned, fiercely independent and uncompromising when it comes to customer service.

“Our customers, and our teams, are at the centre of both our businesses, and we are pleased to confirm that there have been no job losses as a result of this transfer. Moving forward, we will be Davy’s preferred storage provider and any Davy’s customers who wish to store wines professionally will be referred to Jeroboams.”

James Davy, fifth-generation chairman of Davy’s, added: “Jeroboams is a highly respected name in the wine industry. As a privately owned business with a storage and broking operation four times the size of Davy’s, and a dedicated private client team, they are well-equipped to provide exceptional service and care for our customers’ wine collections. We are confident that our customers’ wines will remain securely stored and meticulously cared for, and Jeroboams’ extensive expertise and broad range of services will ensure they continue to receive the highest level of support.”

This acquisition caps an industrious year for Jeroboams, which has managed to expand its operations despite challenging market conditions. Recently, Jeroboams opened its tenth shop on the King’s Road in Chelsea, while its buying team received the International Wine Challenge’s Buying Team of the Year award.

The group has also extended its portfolio with several new agency partnerships, including Achaval Ferrer, Harrow & Hope, Kelly Washington Wines, Kaesler, FRAM, Bakkanali, Butussi and Pleasant Land Distillery, joining its longstanding agencies such as Moss Wood, Hunter’s, Rampolla, Podere Le Ripi and Pierro.

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