Chapel Down raises £18.5m to fund future acquisitions
Chapel Down, the market leading English wine producer, has raised £18.53m through the issue of new shares.
IPGL, the family office of Michael Spencer, and a global institutional investor, have taken part in the fundraising alongside the company’s board and management.
The funds raised pursuant to the fundraising will enable the company to satisfy the ever-increasing demand for its award-winning products.
This includes the expansion of its vineyards, its brewery in Ashford, further PR & marketing activity and will help fund future strategic acquisitions.
Frazer Thompson, CEO of Chapel Down, said: “This is a transformational moment for Chapel Down. This fundraising enables us to significantly invest in the business for further growth and to meet the increasing demand for our products.
“We welcome the new investors in our company and hope that many of our existing shareholders will take part in the open offer and continue their journey with Chapel Down. This marks the opening of a new chapter of growth for Chapel Down.
“With an outstanding team and world class products, we will look to fully capitalise on our position as the UK’s most exciting drinks company.”
Published: 13 December 2017