Dragons breath life into Pebblebed project

A TV appearance by Devon winemaker Geoff Bowen of Pebblebed Vineyards has ensured the financial backing for a vineyard project that will produce personalised sparkling wine.

Bowen gained the necessary £60,000 investment to buy and plant a neighbouring vineyard by pitching his idea on notoriously demanding British reality series Dragons’ Den on the BBC.

After a good start, Bowen stalled when questioned aggressively by one of the “Dragons” on how they would get their return.

Luckily for Bowen, another Dragon, Duncan Bannatyne, saw the opportunity from investing in the expansion of the Devon vineyard, explained the potential payback to fellow Dragons, and offered £60,000 for a 40% share of the project – double the equity Bowen proposed.

Click here to see Bowen’s pitch and acceptance of Bannatyne’s offer.

Speaking to the drinks business after the episode was shown this week, Bowen said: “I’m used to giving presentations from my background as an environmental geologist but suddenly when I looked up, and saw five famous faces, and about 100 BBC film crew, I felt a bit out of my depth, and hence I hesitated in the middle of my presentation – you’ve got to be very confident.”

Since the programme was filmed, Bowen said that Bannatyne has already visited Pebblebed with his family.

Bowen also said that the £60,000 offered by Bannatyne was necessary to get his project started, which will involve producing sparkling wines with personalised labels for vineyard investors.

For the future he hopes to get more people involved, such as local business, which might want to fund a row of vines in return for an annual production of sparkling under their own label.

Pebblebed currently has 22 acres of vineyards, which are all farmed organically, and Bowen said he is researching converting some of his vineyards to biodynamic viticultural practices.

The business also has a cellar and shop in the town of Topsham on the Exe estuary in Devon, so, as Bowen explains, “we can bring the wine to the people.”

Bowen’s appearance on Dragons’ Den follows other wine-related investment schemes, most notably entrepreneur James Nash’s idea for a ready-to-drink plastic glass for retailers.

Although rejected by the Dragons, the packaging solution was taken up by UK supermarket Marks & Spencer for a range of wines called Le Froglet.

The brand, which includes a 25cl measure of red, white and rosé in a plastic wine glass with a tear-off lid (RRP £2.75), were trialled in 91 M&S stores and have been so successful the retailer is now rolling them out in all 650 of its food outlets.

Patrick Schmitt, 19.07.2010