Oddbins sold to ex MD’s son

In a surprise and ironic wine retailing twist, Oddbins has been bought from Castel by Simon Baile, son of Nick Baile, former MD of the quirky multiple specialist. Simon’s current business, Ex Cellar – a wine and food retailer with two outlets – acquired Oddbins Limited earlier today for an undisclosed sum.

Ex Cellar was founded in 1999 by Simon Baile and Henry Young and currently has two stores, one in Kent’s Ashtead and the other in 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 Henry Young as chairman and Simon Baile as managing director.

 

Commenting on the acquisition, Simon Baile said today: “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.”

 

 

Patrick Schmitt, 04.08.08