Chapel Down invites its pilgrims to invest in the company via Seedrs As the market leader [in English wines], we want to ensure that Chapel Down is best placed to benefit from the increasing consumer interest at home and abroad, said Chapel Down s CEO, Frazer Thompson.
Chapel Down, the English winemaker, is going down the crowdfunding route to supplement a traditional City fundraising.
The company, which calls its crowdfunding backers “pilgrims”, said those who invest in the company will receive up to a 33% discount on its wines.
The company intends to up to £5.45mln via the equity crowdfunding, with up to 9.2mln shares available at 59.5p, with a further £1.43mln targeted via a traditional placing of shares at the same price.
Last modified on Fri 4 Jun 2021 09.39 EDT
The English winemaker Chapel Down is asking the public to take part in a fresh funding round worth up to £7m that will help the business expand its vineyard in the North Downs and ramp up exports.
It is the Kent companyâs latest attempt to tap into investor enthusiasm for homegrown tipples as the democratisation of shareholding grows.
Chapel Down plans to use the money to scale up its wineries and finish planting grapevines on the North Downs, where its vineyards are expected to produce an extra 500,000 bottles of English sparkling wine a year. Some of the cash will also help develop its online sales portal and export business.
Chapel Down seeks £7 million in funding thespiritsbusiness.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thespiritsbusiness.com Daily Mail and Mail on Sunday newspapers.
English wine maker Chapel Down shrugged off widespread closures in the off-trade to grow sales volumes 38% last year, but group results were hit by the weaker performance of its demerged beer and cider arm Curious Drinks.
Champagne is becoming old hat. So says Frazer Thompson, the boss of Chapel Down, England s largest sparkling wine producer, which is fast becoming a rival to the French fizz behemoths.