Chapel Down chair to step down as on-trade sales grow moderately

Chapel Down’s chair, Martin Glenn, will step down in September following five years in the role.

During his tenure, he oversaw a major restructuring and refocusing of the business from a multi-category drinks company with a portfolio comprising craft beer, spirits and still wine into a brand primarily focused on English sparkling wine.

Michael Spencer will move into the chair role, having served as a non-executive director since 2023. He is Chapel Down’s largest shareholder, holding a 27.3% stake through his investment vehicle IPGL.

Former Britvic chief executive Simon Litherland will also join the board as an independent non-executive director in August. He led Britvic through a period of growth from 2013 to 2025, culminating in its recent acquisition by the Carlsberg Group.

Glenn said: “It has been a privilege to serve as chair during such a transformative period for Chapel Down. The business is in excellent health, with a strong executive team and a clear, profitable growth strategy. I am delighted that the board intends to appoint Michael Spencer as my successor. With his exceptional track record in shareholder value creation and deep understanding of our business, Chapel Down will be in very capable hands.”

Chairman-designate Spencer added: “Martin has made an invaluable contribution to Chapel Down, helping guide the business through a period of remarkable progress. I look forward to continuing to build on this momentum. I am also delighted to welcome Simon Litherland to the board – a strong appointment who brings impressive consumer and leadership experience."

The board shake-up comes as the sparkling wine producer reported its financial results for the six months to 30 June 2025.

On-trade net sales increased by a moderate 3% to £1.2m. However, overall net sales grew 11% to £7.9m, driven by a strong 30% rise in off-trade business to £3.8m, which was partially due to increased rosé listings.

Chief executive James Pennefather, who joined the company in February, said: “Chapel Down entered 2025 with strong momentum, and I am delighted that this has continued through the first half of the year.

“With over 1,000 acres of vines now planted and as the leading brand in English wine, we continue to invest for future growth and can see significant future potential both within the UK and in key export markets. Chapel Down’s brand awareness is now at an all time high and the brand is well positioned to benefit from the positive consumer engagement we are seeing within the category.”

He also reiterated the company’s ambition to win an equivalent 1% share of the global Champagne market by 2035.

In June 2024, Chapel Down considered a sale amid a strategic review to fund its long-term growth plan, but scrapped the idea in October, saying there was no deal which would “create superior long-term shareholder value”.