Decanter Chapel Down winery to drop beer with Curious Drinks disposal
Chapel Down plans to refocus on fast-growing demand for English wine after the disposal of Curious Drinks, which has seen beer sales to restaurants and bars dwindle during the Covid-19 crisis.
Chapel Down said it would refocus on English wines and spirits by disposing of its Curious Drinks business, including beer and cider brands, brewery and a restaurant.
Curious Drinks was set to be placed into administration before being acquired by a division of Risk Capital Partners (RCP), the UK private equity group founded by Luke Johnson.
Chapel Down’s CEO, Frazer Thompson, said it was a difficult decision but that Curious Drinks had been hit hard by the economic fallout of Covid-19.
Tenterden s Chapel Down disposes of Curious beer and cider brand, and its brewery in Ashford, with private equity firm Risk Capital Partners poised to takeover
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Updated: 15:06, 09 February 2021
Winemaker Chapel Down has ditched its Curious beer and cider range - less than two years after it unveiled a multi-million brewery and visitor centre devoted to it in Ashford.
The Tenterden-based firm said the impact of the lockdown over the last 12 months, while seeing wine sales soar, had hit its trade to pubs hard.
The Curious Brewery in Ashford is set for new owners
Some 90% of its beer is sold to pubs and restaurants - most of which have been forced to close for lengthy periods due to the pandemic.
English winemaker Chapel Down has announced the disposal of its Curious Drinks business and assets, including the Curious Beer and Cider brands as well as the Curious Brewery and restaurant in Ashford, Kent.
By Alec Mattinson2021-02-09T09:03:00+00:00
Ocado has cut its annual loss by almost 80% amid booming sales during the pandemic, but the online grocer warned the coronavirus outbreak and drive for international expansion will continue to constrain profitability.
Total group revenues for the 52 weeks ended 29 November jumped by 32.7% to £2.33bn from £1.76bn in the previous year.
This was primarily driven by a 35.3% increase in retail revenue, its joint venture with Marks & Spencer, reflecting increased demand driven by Covid-19 restrictions, with a £31 increase in the average basket value from £106 to £137.
The Group also began to recognise revenue its international solutions business following the commencement of operations at the first two international CFCs in Toronto and Paris, with reported revenue of £16.6m.
English wine and spirits producer Chapel Down has decided to dispose of its beer and cider arm Curious Drinks in a pre-pack sale to private equity firm Risk Capital Partners.