LONDON, UK: CVI U.K. Ltd, a newly incorporated entity owned directly by Berry Bros. & Rudd and Atlantis Wine Holdings, has agreed on the terms to acquire Hambledon Vineyard plc at the rate of 180 pence for each ordinary share and each ordinary B share.

Accordingly, the offers value Hambledon’s existing issued and to be issued ordinary share and B ordinary share capital at approximately £22.3 million.

The Hambledon vineyard was established in 1952 by Major-General Sir Guy Salisbury-Jones and is one of England’s oldest commercial vineyards.  Ian Kellett bought the Hambledon vineyard and Mill Down House in 1999, with a view to restoring Hambledon’s historic position in the vanguard of English wine production. 

As a result of hard work and diligence of the Hambledon team, Hambledon sparkling wines have won numerous gold medal awards from international wine competition and blind tasting tests. 

However, the capital investment in both developing new vineyards to build international scale, and in new visitor centre facilities, along with the impact of Covid, has caused financial stress on the business’ funding and led directly to the search for a long-term capital partner for the Company.

Commenting on the Acquisition, Martin Robinson (Chair of Hambledon) said: “Berry Bros & Rudd and Symington Family Estates are organisations with longstanding experience and good reputation in the international drinks industry. They know the Hambledon business well and have committed to invest in it going forward.

Their strengths in wine growing, branding and distribution inter alia are positives for our stakeholders going forward. I want to thank our shareholders for their belief and loyal support over the years. Much to be proud of has been achieved by Hambledon and the quality of wine has met with international accolade. All of that said, the challenges we face mean now is the time to hand over the reins to a well-capitalised, well-resourced group.”

In a joint statement on the Acquisition, Lizzy Rudd (Chair of Berry Bros. & Rudd) and Rupert Symington (CEO of Symington Family Estates) said: “Over the past few months our two family businesses have provided considerable financial support to Hambledon Vineyard plc, following a period of sustained financial pressure. We have been working with the Hambledon directors, lawyers, and advisors to prepare this offer to shareholders which is being recommended by the independent Hambledon board. We believe the offer represents a positive opportunity for shareholders to receive value for their investment against the backdrop of the highly uncertain future the business otherwise faces.

We are pleased that our offer has the full support of Ian Kellett and Anna Krits-Kellett, who have provided binding irrevocables to sell their shares. Given our objective of completing a full acquisition, requiring a high level of acceptance, we encourage shareholders to review the offer and to provide a swift response. We wish Ian and Anna every success in their future plans.”

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