Winemaker Gusbourne contemplates business sale

English sparkling wine producer Gusbourne is considering a sale after majority shareholder Lord Ashcroft notified the company’s board that he wants to explore business strategies.

Ashcroft’s options for his 66.76% shareholding (a total of 40,628,009 shares) include the potential business sale, a strategic merger with a similar company and a possible capitalisation of all or part of his £20m bond debt.

Following consultation with Gusbourne’s takeover panel, the firm has entered an ‘offer period’ and will now seek to work with Lord Ashcroft to ensure the process maximises shareholder value. No approaches have yet been made for the shares.

Gusbourne’s chief executive Jonathan White said: “Gusbourne has established itself as one of the UK’s most significant fine wine producers and has an exciting strategy for future global growth. Our strategic vision remains unchanged and we have been pleased with the recent momentum across our three strategic pillars [UK trade, direct to consumer and international markets].

“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.”

In his notification to the company’s board, Lord Ashcroft wrote: “You will have seen that as the majority shareholder of [recruitment company] Impellam Plc I announced that I wanted to review strategic options with regard to my shareholding. That objective has now been achieved and is of public record. Now at the tender age of 78 I am reviewing my future options and would now like to conduct a similar exercise with regard to Gusbourne. I am flexible as to the outcome.”

Ashford-based Gusbourne planted its first vines in 2004 and now produces grapes across 93 hectares of vineyards in Kent and West Sussex.

In 2023 the winemaker harvested its biggest yield to date of Chardonnay, Pinot Noir and Pinot Meunier grapes, with wines due to be bottled during this summer.

It comes after English sparkling wine producer Chapel Down also revealed last month that it is considering a sale of the company.