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BBR and Symington confirm Hambledon takeover
Fine wine merchant Berry Bros. & Rudd and Port producer Symington Family Estates have confirmed the acquisition of Hambledon Vineyard following a successful plc takeover bid.
The purchase of England’s oldest commercial vineyard is a 50/50 joint venture between the two British-owned businesses.
The bid has reached 90% shareholder acceptance and has been declared “unconditional”, which triggers the mandatory purchase of the remaining shares, leading to a 100% acquisition.
Vines were first planted on the site in 1952, and today Hambledon produces wine from over 80 hectares of vineyard.
Hambledon has the capacity to produce more than 500,000 bottles per year of estate-grown sparkling wine.
The move represents “growing confidence in the dynamic English sparkling wine category and its future potential”, according to a release put out by the two companies.
Symington Family Estates has produced Port and still wines in Portugal for five generations, and Johnny Symington, chair of Symington Family Estates, said “it was going to take something very special for us to make wine in a new country”.
“Following lengthy analysis of the English sparkling wine category we are thrilled to be acquiring one of the leading producers in partnership with Berry Bros. & Rudd,” he added.
“The quality of the wines is absolutely spectacular and is a reflection of the fantastic Hambledon terroir – with classic Champagne varieties planted exclusively on chalk soils and an extremely favourable microclimate situated in Hampshire close to the English Channel. We believe that these are world-class sparkling wines that will play a leading role in the development of English sparkling into a world-renowned fine wine.”
Lizzy Rudd, chair of Berry Bros. & Rudd, said of the acquisition: “We are delighted to confirm this exciting joint venture with Symington Family Estates. Together, we are committed to sustainable viticulture and winemaking, and we believe that this business, which was the first commercial English vineyard of the modern era, has the foundations and potential to lead the way in the English sparkling wine category.
“We are two family businesses who have worked together and been friends for many years. We share the same values and ethos and are delighted to be partnering to bring stability and growth to this business at a very exciting time for English sparkling wine.”
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