Gusbourne majority shareholder considering sale

Lord Ashcroft, who owns almost 67% of the company, announced that he will “review his strategic options”, ​adding that he was “flexible as to the outcome”.​

In 2023, Ashcroft sold his majority stake in recruitment firm Impellum for £300m (overall sale was worth £483m) after making a similar announcement a year earlier.

“At the tender age of 78, I am reviewing my future options and would like to conduct a similar exercise [to Impellum] with regard to Gusbourne,”​ he said.

In a statement published on 22 July, the Gusbourne board confirmed it had spoken with Ashcroft who wanted to open discussions about various options including “a possible sale of his shareholding, a strategic merger with a similar company and a possible capitalisation of all or part of his debt”.​

Former marketing director Jonathan White was named as the firm’s new chief executive in January 2024, replacing interim Mike Paul.

Commenting on the comments from Ashcroft, White said: “We look forward to entering into constructive discussions which may arise from this process, at what is an exciting phase for the fast growing English fine market.​

“We would like to thank Lord Ashcroft for his support in helping establish Gusbourne into the business it is today.”​

Based across two vineyards in Kent and West Sussex, Gusbourne was established in 2004 by Andrew Weeber and produces sparking and still wines. Ashcroft acquired his majority stake in the business in 2013.

In other news, with investment levels down more than 30% since 2019, Food Manufacture explores the reasons behind this dramatic decline and asks how the food and drink sector can get back on track.​​