Kent-based winemaker Gusbourne considers sale
24th July 2024
A Kent-based winemaker, Gusbourne, has announced it is considering a sale.
The majority shareholder in Gusbourne, which has 60 acres of vineyards in Appledore, has revealed he wants to “explore various strategic options for his shareholding, including a possible sale,” Kent Online confirmed.
Conservative peer Lord Ashcroft, who owns over 67% stake in the business, has made it clear it wants to open discussions with the board at Gusbourne, which could also include a strategic merger with a similar company.
He said: “Now, at the tender age of 78, I am reviewing my future options.
“I have an interest in 40,628,009 shares, representing 66.76% of the issued share capital of Gusbourne. In addition, a company 100% owned by me holds a £20m long-term secured deep discount bond.
“I am flexible as to the outcome. It may be a sale. It may be a strategic merger with a similar company. It may be a capitalisation or restructuring of all or part of my debt.”
Offer period
The winemaker has now entered what is known as an “offer period”.
Jonathan White, Gusbourne’s CEO, told the media: “Gusbourne has established itself as one of the UK’s most significant fine wine producers and has an exciting strategy for future global growth.
“We look forward to entering into constructive discussions, which may arise from this process, at what is an exciting phase for the fast-growing English fine market.
“We would like to thank Lord Ashcroft for his support in helping establish Gusbourne into the business it is today.”
Further announcements will be made as appropriate, the company said.
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