The UK’s largest winemaker Chapel Down is considering a sale of the company as part of a strategic review into funding options for its growth plans.
The company said it was looking for long-term investment to fund new vineyards and a new purpose-built winery to be operational by 2026 and was contemplating a range of options including the sale of the business or funding from new or existing shareholders.
The board of Chapel Down said: “Considering the timeline of these investments, the board believes that it is now appropriate to review the full range of long-term funding options that support this plan.
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“As part of the review, the board will consider all alternatives, including investment from existing shareholders, investment from new shareholders, a sale of the company, and other relevant transactions.”
The company added that it remains “on-track” to deliver double digit sales growth in 2024 and “retains a strong balance sheet with significant headroom to its existing debt facility of £12m and has reached agreement in principle to extend and increase this facility”.
The news comes as Chapel Down looks to double the size of the business 2021 and 2026, aided by the UK’s warming climate, and a surge in foreign investment in the country’s vineyards and wineries.
