After the offer reached 90% shareholder approval, it was declared unconditional, triggering the mandatory purchase of the remaining shares.
Berry Bros & Rudd is the UK's oldest merchant of fine wines and spirits, while Symington Family Estates is a leading producer of premium ports. The joint venture is split 50:50 between the two family-owned companies.
Based in Hampshire, Hambledon is the oldest commercial vineyard in England having been established in 1952. Currently, it has the capacity to produce more than 500,000 bottles of sparkling wine each year in its 200-acre vineyard.
An exciting time for English sparkling wine
Lizzie Rudd, president of Berry Bros & Rudd, said the company was “thrilled” to embark on this joint venture with Symington Family Estates.
“Together, we are committed to sustainable viticulture and winemaking, and 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,” Rod explained.
The two companies have worked collaboratively for a number of years, and Rod expects that by sharing the same “values and ethos”, the venture can “bring stability and growth to this business at a very exciting time for English sparkling wine”.
Meanwhile, Johnny Symington, Chairman of Symington Family Estates, added; “It took something very special for us to make wine in a new country, having produced port and wine in Portugal for five generations. Following a lengthy analysis of the English sparkling wine category, we are delighted to have acquired one of the leading producers in partnership with Berry Bros. & Rudd.
“The quality of the wines is absolutely amazing and is a reflection of the wonderful terroir of Hambledon – with classic Champagne varieties grown exclusively in chalky soil and a very favorable microclimate located in Hampshire close to the English Channel. We believe these are world-class sparkling wines that will play a pioneering role in the development of From English sparkling wines to world-famous fine wines.
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