One of the brewing industry’s best-known figures has led a £4.4m fundraising by Chapel Down, the English winemaker according to the Sunday Times
Hothouse Club, an investment fund founded by John Dunsmore, former chief executive of Scottish & Newcastle and C&C, the cider maker, has contributed £2.4m. The 54-year-old brewing veteran will join the Chapel Down board as a non-executive director. Most of the remainder is understood to have come from institutional investors. An announcement could come as early as tomorrow.
The money will be used to expand the company’s range of wines and invest in its brewery.
Chapel Down, led by Frazer Thompson, chief executive, already makes beer as well as wine.
The drinks company, listed on the junior ISDX stock exchange, is growing rapidly. Sales last year reached £4.8m, compared with £3.8m in 2011. Pre-tax profits more than doubled to £370,000 over the same period. Its other big shareholders include Nigel Wray, owner of Saracens rugby club. He has also contributed to the funding.