Symington Family Estates and Berry Bros & Rudd have lined up a £22.3 million takeover bid for Hambledon Vineyard.
In a filing on the London Stock Exchange, Berry Bros and Atlantis Wine Holdings, a member of the Symington Group, announced the formation of a new consortium – CVI UK – in a takeover bid for the Hampshire-based English wine brand.
The consortium said the acquisition would take the brand to the next level, leveraging their experience in winemaking, distribution, director-to-consumer retail, and hospitality.
According to the filing, Hambledon directors have considered a number of ways to bring equity into the business.
A spokesperson for Berry Bros & Rudd said: “We can confirm that Symington Family Estates and Berry Bros & Rudd have initiated a takeover bid for Hambledon Vineyard plc. This process is regulated by the Takeover Panel. The context and strategic rationale behind the bid are detailed in the mandatory bid documentation that is publicly available on www.cvi-ltd.co.uk. Before the process has ended and until the outcome has been confirmed, we are unable to comment further.”
Established in 1952 by Major-General Sir Guy Salisbury-Jones, Hambledon claims to be England’s oldest commercial vineyard. The business was acquired by Ian Kellett in 1999.