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English winemaker Gusbourne has practically been put up for sale.
Conservative peer Lord Ashcroft, who owns a 67% stake in the business, has told the board he wants to “explore a number of strategic options for his involvement”.
Gusbourne was launched in 2004 by Andrew Weeber and acquired by Lord Ashcroft in 2013 for £7 million.
“Now, at the tender age of 78, I am looking at my future options,” Ashcroft said. “I am flexible about the outcome.
“It could be a sale. It could be a strategic merger with a similar company.”
The announcement comes weeks after sparkling wine rival Chapel Down revealed it was also considering a sale.
Chapel Down, Britain’s largest wine producer, announced it was launching a strategic review as it seeks to meet growing demand for English sparkling wine. Wine is the fastest growing agricultural sector in the UK and business is booming.
Gusbourne was launched in 2004 by Andrew Weeber and acquired by Lord Ashcroft in 2013 for £7 million.
The winery, valued at around £40m, recently launched the most expensive English sparkling wine on the market, Fifty One Degrees North, at £195.
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