English winery Chapel Down has launched a strategic review, as it looks at options to fund long-term growth.

Future plans include investing in new vineyards, a new winery and a brand home in Tenterden, Kent. As part of the review, the company will consider “all alternatives” including investment from existing shareholders, investment from new shareholders, a sale of the business, and “other relevant transactions”.

Chapel Down said it remains on-track to deliver double digit sales growth in 2024 and retains a strong balance sheet with “significant headroom to its existing debt facility of £12 million and has reached agreement in principle to extend and increase this facility”.

In full-year 2023 results, released in April, Chapel Down said net sales for the year lifted 15% to £17.9 million, while its traditional method sparkling wine sales grew 25% to £12 million, on a 13% lift in volumes. Gross profit increased 16% to £8.9 million.