Chapel Down, a prominent name in the UK wine industry, announced that it is initiating a strategic review to explore long-term funding options aimed at supporting its ambitious growth strategy. This review is critical as the company plans substantial investments to enhance its production capabilities and branding presence.

Key Details of the Strategic Review:

– Investment Plans: Chapel Down’s growth strategy involves significant capital investments, including the acquisition of new vineyards and the construction of a new purpose-built winery slated to be operational by the 2026 harvest. Additionally, the company aims to develop its brand home at Tenterden, enhancing its visibility and consumer engagement.

– Funding Options: The Board will consider a variety of funding avenues, including securing investments from both existing and new shareholders, potentially selling the company, or engaging in other relevant transactions to support these plans.

Chapel Down remains optimistic about its financial trajectory, expecting to achieve double-digit sales growth in 2024. The company also boasts a strong balance sheet, with ample room within its existing £12 million debt facility. Moreover, Chapel Down has reached an agreement in principle to both extend and increase this facility, further solidifying its financial foundation as it explores funding options.

Rothschild & Co has been appointed as the Lead Financial Adviser to assist Chapel Down with the strategic review process. Additionally, Singer Capital Markets continues its role as Nominated Adviser and Broker, ensuring that the company navigates this period with expert financial guidance.

While the strategic review is underway, there is no certainty regarding the pursuit or the outcome of any potential transaction. Chapel Down aims to ensure that any decisions made will bolster its long-term growth objectives and benefit all stakeholders involved.

The decision to review long-term funding options demonstrates Chapel Down’s proactive approach in scaling operations and enhancing its market position. By exploring various funding mechanisms, Chapel Down is positioning itself to capitalize on market opportunities and sustain its growth trajectory effectively.

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