Glengarry Wines sells six stores to Big Barrel as next generation takes over
Glengarry Wines family business manager Aroha Jakicevich says the decision to sell part of its store network will give the company more time to invest in its offering.
One of New Zealand’s oldest liquor store chains has sold two-thirds of its store network for an undisclosed sum, as the family business’ fourth generation takes ownership and direction of the company.
Glengarry Wines has announced a transition agreement with Big Barrel Group under which the latter will acquire six of Glengarry’s stores, including Thorndon and Kelburn in Wellington, and Bassett Rd, Parnell, Khyber Pass and Victoria Park in Auckland.
Glengarry will retain three Auckland stores, including Ponsonby Rd, Westmere and Jervois Rd, where it has been in operation since 1945, along with its online store.
Glengarry Wines family business manager Aroha Jakicevich said the business has been adapting to the market for 80 years.
“This agreement reflects where both businesses are headed. For us, that means specialist retail, events and tastings, and investing in how we serve customers online,” Jakicevich said.
The settlement and transition of each location is staged over the coming months, with both parties committed to ensuring continuity for customers and staff throughout the process.
Big Barrel Group is owned and operated by Palwinder Singh and has grown to 52 stores nationwide.
The company said it sees the acquisition as part of its long-term investment into specialist liquor retailing across New Zealand.
Singh said he had long admired what Glengarry had built.
“These are well-run stores with loyal customers and real community roots. We’re excited to be part of their next chapter,” Singh said.
Singh has been approached for further comment.
Glengarry has undergone several downsizes over the past three years, with the company’s store count reducing from 17 in 2023 to three under this deal.
Jakicevich, 30, represents the fourth generation of the Jakicevich family involved in the business, as she now steps into the leadership position.
Speaking to the Herald, Jakicevich said the changes reflected the evolution of the retail landscape and a desire to focus the business on where it can create the most meaningful experiences for customers.
“We stepped back and looked carefully at where Glengarry is strongest and where we believe the business should head over the next decade.
“In many ways, this is a return to the structure of the business I grew up around. Smaller, more hands-on and deeply connected to the stores themselves. That is where I believe Glengarry is at its best.”
Jakicevich said the change would give the business more time to curate its range and expand its imported and exclusive wines and spirits.
It would also allow the business to invest in tastings and events, and spend more time with its customers.
Looking ahead, Jakicevich said a “significant family investment” would be going towards launching a new Glengarry website to help it better serve customers nationwide.
She acknowledged the wider retail environment and said operating large physical networks is “becoming harder for everyone in the industry”.
“Wine retail has changed enormously over the past decade. People are discovering wine in different ways now – through friends, tastings, travel and social occasions.
“At the same time people are more selective about the bottles they buy. They want to know they’re spending the right amount of money on something they’ll genuinely enjoy. For us, that’s where great advice and discovery still matter.”
Jakicevich couldn’t confirm any commercial terms or purchase figures publicly, but said it was important the deal was not a corporate acquisition.
“It is one independent family business working with another independent family business. There has been a lot of respect on both sides through the process.”
Glengarry was founded in 1940 by the late Josef Jakicevich, who arrived almost penniless in New Zealand in 1920 just as prohibition was introduced in the US.
Tom Raynel is a multimedia business journalist for the Herald, covering small business, retail and tourism.
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