Lord Ashcroft’s Gusbourne estate, which is controlled by him, may be for sale at a high price but the harvest this year will face “challenging vineyard conditions”. After building up strong stock, the group does not expect any interruptions in supply.
Mildew had affected many vineyards in West Sussex. The company said that they would be able apply a premium price to a vintage year which will be rare. Jonathan White, 42-year-old chief executive officer, stated: “The fruit looks promising with some beautiful Pinot noir.” The acidity is excellent.
“Any fruit that doesn’t meet our strict standards will be left in the vineyard.” The 2024 harvest is expected to be smaller, but the quality of the wine will still be exceptional. The former deputy chairman for the Conservative Party hoisted a “for-sale” sign over his Kent-based estate in July, indicating that he was interested in exploring “strategic” options, which included a possible sell of his 66.76 percent stake.
The Aim wine group’s shares remained at 64p per share on Thursday. This valued the equity of the company at a little under £40 million. Chapel Down, UK’s largest winemaker, put itself on the market during the summer to highlight the growing interest for English wine. Analysts said that it could indicate a growing supply surplus, but this year’s poor harvest should ease the pressure.
Hambledon Vineyard, a vineyard in Hampshire , was acquired by Berry Bros & Rudd last September after financial difficulties. Lord Ashcroft once referred to the wine industry as “a huge hole into which you pour all your money”.
Gusbourne’s total net revenue is made up of 21,2 percent international sales. The winery’s largest export markets are Scandinavian, Japan, and the United States. This year it has added China and Caribbean to its list of markets, bringing the total to 35. The winemaker also targets India and the Middle East.
Gusbourne, a British producer of red wines and vintage sparkling wine, also produces a pinot-noir that sells for £40. The price range of its sparkling wines is between £45 and £195, for the Fifty One Degrees North brand.
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