English winemaker Gusbourne has effectively been put up for sale.
Conservative peer Lord Ashcroft, who owns a 67pc stake in the business, has told the board he wants to ‘explore various strategic options for his shareholding’.
Gusbourne was launched in 2004 by Andrew Weeber and acquired by Lord Ashcroft in 2013 for £7m.
‘Now at the tender age of 78 I am reviewing my future options,’ Ashcroft said. ‘I am flexible as to the outcome.
‘It may be a sale. It may be a strategic merger with a similar company.’
The announcement comes weeks after sparkling wine rival Chapel Down revealed it was also considering a sale.
Chapel Down, which is Britain’s biggest wine maker, said it was kicking off a strategic review as it tries to meet the booming demand for English fizz. Wine is the UK’s fastest growing agricultural sector with business booming.
Gusbourne was launched in 2004 by Andrew Weeber and acquired by Lord Ashcroft in 2013 for £7m.
Recently, the winemaker – which is valued at around £40m – launched the most expensive English sparkling wine on the market, Fifty One Degrees North, at £195.
DIY INVESTING PLATFORMS
AJ Bell
AJ Bell
Easy investing and ready-made portfolios
Hargreaves Lansdown
Hargreaves Lansdown
Free fund dealing and investment ideas
interactive investor
interactive investor
Flat-fee investing from £4.99 per month
eToro
eToro
Share investing: 30+ million community
Trading 212
Trading 212
Free share dealing and no account fee
Affiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.
Compare the best investing account for you
***
Read more at DailyMail.co.uk