England’s leading wine producer raises £6.876m, making it the first company to achieve the maximum raise on the Seedrs platform.
- The funds will be be invested in new vineyards, winery, and tourism facilities.
Chapel Down, England’s leading wine producer, has reached the maximum crowdfund raise having secured £6.876m in just 33 days, smashing their original target of £3m within the first week of the campaign launching.
Over 4,100 people have invested making it the largest number of individual investors of any food & beverage company on Seedrs.
The investment will help to enable Chapel Down to continue to change the way people think about English wine. The funds will further improve its winemaking capability and continue to build awareness and experience of the brand.
In return, shareholders receive an attractive range of benefits, including preferential discounts on its wines, spirits and tourism experiences, as well as priority access to new vintages and exclusive tastings and events. To learn more about shareholding with Chapel Down, read on here.
This crowdfund follows a milestone year for the company. Direct to consumer volumes were up 467 per cent, as locked-down drinkers were encouraged to try something new, original and closer to home. Revenues on a continuing basis were up 32 per cent to £13.294m, while gross profit on a continuing basis was up 31 per cent, at £5.149m. Meanwhile, an excellent harvest enabled Chapel Down to increase wine stocks by 12 per cent to £12.029m (2019: £10.719).
Announced with the fundraise was news that the Company has secured a £15m term loan and revolving credit facility from PNC Business Credit to further bolster the ambitious growth plans.
Frazer Thompson, chief executive at Chapel Down Group, said:
“We’re thrilled to have hit the maximum target so quickly. We are truly humbled that so many more investors have decided to join us on our journey of changing the way the world thinks about English wine forever. More people than ever are aware of the extraordinary potential of English wines. Twenty years ago when we started this journey, people thought we were mad. No longer!
This is the genesis of a new wine region, and I want to extend my humble thanks to all those who are coming on the journey with us to create something special.”