Over the years, there has been massive growth in new vineyards and wineries in the U.K., including for Kent-based Chapel Down, the country\u2019s largest winemaker.<\/p>\n
The company is now exploring options to help fund further expansion, including selling its business<\/a> or raising investments from current and new shareholders, it announced on Tuesday. No decision has been confirmed yet.\u00a0<\/p>\n Chapel Down was only listed on London\u2019s junior exchange, AIM, six months ago.\u00a0<\/p>\n The English sparkling winemaker said it plans to use the fresh funds for new vineyards and a new purpose-built winery that\u2019ll be up and running by 2026.<\/p>\n \u201cConsidering the timeline of these investments, the Board believes that it is now appropriate to review the full range of long-term funding options that support this plan,\u201d Chapel Down said in a statement.\u00a0<\/p>\n The company said it was on track to hit double-digit sales growth in 2024 and aims to double its sales<\/a> between 2021 and 2026.<\/p>\n Chapel Down declined to comment beyond its announcement.\u00a0<\/p>\n The wine-making business isn\u2019t new to Britain\u2014it just never stood a real chance against its better-known rivals in France and Spain.\u00a0<\/p>\n Founded 22 years ago, Chapel Down has witnessed the U.K.\u2019s wine business expand at a time when climate change has wreaked havoc on other traditional wine-producing hubs<\/a>.\u00a0<\/p>\n Warmer conditions in the U.K. have spawned local businesses and increased wine exports<\/a>, attracting \u00a3570 million ($723.5 million) in the last 10 years, according to real estate advisory firm Strutt & Parker<\/a>.<\/p>\n \u201cAlthough the U.K. remains a very minor producer of grapes globally \u2013 at well under a tenth of a percent \u2013 it grew faster than any of the major wine-growing countries in the world in 2023,\u201d Nick Watson, the head of viticulture at Strutt & Parker, said in a June report.\u00a0<\/p>\n The rise in temperatures has been especially helpful for growing varieties like Chardonnay, Pinot Noir and Pinot Meunier\u2014the three grapes used to make traditional Champagne\u2014which happen to be Britain\u2019s most-planted, according to data from industry body WineGB<\/a>.<\/p>\n Most of the U.K.\u2019s vineyards are located in the southeast parts of the country\u2014Chapel Down owns 9% of the total, the Financial Times<\/em><\/a> reported in September. In 2023, the winemaker boasted a revenue of \u00a318 million ($23 million) owing to strong demand for its locally-produced wines.\u00a0<\/p>\n The company is a crown jewel in the U.K.\u2019s bustling winery space and has a number of high-profit sponsorships under its belt, including events like the Ascot races and partnerships with the England and Wales Cricket Board.\u00a0<\/p>\n Chris Ratcliffe\u2014Bloomberg\/Getty Images<\/p>\n<\/div>\n When Chapel Down went public in December, CEO Andrew Carter said the move was a step towards the company\u2019s \u201cevolution\u201d as it\u2019s \u201cgrown from a start-up into being England\u2019s leading and largest winemaker.\u201d\u00a0![\"Bottles](\"https:\/\/fortune.com\/img-assets\/wp-content\/uploads\/2024\/06\/GettyImages-1243789926-e1719310041724.jpg?w=1440&q=75\"\/)
The AIM listing would help it \u201cattract new investors to participate in Chapel Down\u2019s growth as the leading producer in the world\u2019s newest global wine region,\u201d Carter said in a statement at the time<\/a>.<\/p>\n<\/div>\n