Penfolds owner Treasury Wine Estates (TWE) is rumoured to be going head to head with fellow Australian drinks giant Accolade Wines in a takeover bid for the English winemaker. Chapel Down, the UK’s biggest wine producer, revealed it was considering putting itself up for sale last month as the firm conducted a strategic review of its business. chief financial officer Robert Smith said the company would “review the full range of long-term funding options” to support the firm’s growth and investment plans. As part of the review, it will look “consider all alternatives”, it said, including a sale of the company — as well as investment from new and existing shareholders. An article published by The Sun newspaper this morning posits both TWE and Accolade as potential buyers. According to The Sun, sources have said the sale was at an early stage and interest from other rivals could still emerge, though the two Australian wine giants were directly named as interested parties. Chapel Down CEO Andrew Carter, who joined the firm in 2021, has previously worked for TWE. the drinks business reached out to Chapel Down this morning, but the firm said it has no comment on its alleged potential buyers. News of the Kent-based winery’s potential sale comes only six months after the producer was admitted to the Alternative Investment Market (AIM) as part of its bid to “attract a wider pool of investors”. Carter said at the time: “The decision to move the Company’s shares to AIM reflects increasing
This Article was originally published on The Drink Business - Wine
