Chapel Down gives its US distribution partner chance to buy thousands of its shares as its fizz proves a hit with Americans
Chapel Down has given its US distribution partner the chance to buy thousands of its shares as its fizz proves a hit with Americans.
Consultancy firm ABCK Corp has been encouraged to take up 536,000 of share options at 88.5p each in the English sparkling wine maker over the next four years in a bid by Chapel Down to share its overseas success with its US partner.
The consultant helped Kent-based Chapel Down launch in America and sells its fizz through Southern Glazer’s Wine & Spirits, the largest wine distributor in the US.
Garden of England: Consultancy firm ABCK Corp helped Kent-based Chapel Down launch in America
Frazer Thompson, chief executive of Chapel Down, said: ‘The USA is – by some margin – our most important export market, and having a motivated and engaged importer and representative is vital. Our brand is starting to perform well and ABCK Corp will have the opportunity to have skin in the game.’
The US is the biggest importer of English sparkling wine in the world and the second biggest importer of champagne after the UK.
Rathfinny Wine Estate in East Sussex is also benefiting, and is exporting half the wine it makes this year to customers across the pond.
And West Sussex vineyard Nyetimber is now planning to double its exports over the next ten years.
Miles Beale, chief executive of the Wine and Spirit Trade Association, said: ‘There’s no doubt that those overseas have fallen for the quality and style of our English sparkling wines.’