Kent-based winery may be put up for sale following strategic review 

The board of Chapel Down has just announced that it will be conducting a strategic review of the options to fund its plan to “continue driving strong and profitable growth in the long-term”. 

As part of the review, the team will consider all alternatives, including investment from existing or new shareholders, a sale of the company, and other relevant transactions, chief financial officer Robert Smith confirmed. 

He added that the move can enable the business to fund more vineyards, build a new winery and develop the brand home at Tenterden. 

Attracting investors 

The statement from Mr Smith also reads that the company “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”. 

At the end of last year, Chapel Down was admitted to the Alternative Investment Market (AIM) as the company aims to “attract a wider pool of investors”. 

In 2022, the Kent-based company sold 1.4 million bottles of wine. Approximately 60,000 people visit its winery tours and tastings every year. 

In March 2023, the company said it would produce three million bottles a year by 2028, and extend plantings to 1,023 acres by 2024 as part of a “long-term enterprise”. 

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