Lord Ashcroft Seeks Gusbourne Delisting as Buyer Search Fails

Lord Ashcroft has called for premium English winemaker Gusbourne to withdraw from London’s junior stock market after unsuccessful attempts to secure a buyer. The company’s shares plummeted more than 40 per cent to 21p following the announcement.

The Kent-based wine producer issued a statement to the stock market indicating receipt of a letter from Ashcroft, via his Belize Finance investment vehicle, requesting a board meeting to discuss delisting from AIM. The company simultaneously confirmed the termination of discussions with potential buyers, stating it is “no longer in receipt of any approaches”.

Gusbourne, which traces its heritage to the de Goosebourne family of the 15th century, was established in 2004 by South African orthopaedic surgeon Andrew Weeber. The estate, transformed from what was once described as a “turnip patch”, was acquired by Ashcroft in 2013 through a £7 million deal.

The company’s recent performance has been challenged by adverse weather conditions, with total net sales reaching approximately £7.1 million for the year ending December 31, remaining flat compared to the previous year. An adjusted loss of £700,000 is anticipated.

UK trade sales, representing 44 per cent of total net income, declined by 9 per cent to £3.1 million, while international sales decreased by 3 per cent to £1.4 million. The company maintains 93 hectares of mature vineyards across Kent and West Sussex, with plans for an additional 55 hectares in Kent.

The development mirrors similar challenges in the English wine sector, as evidenced by Chapel Down, the UK’s largest winemaker, which also withdrew from sale in October after failing to attract suitable buyers during a four-month market exploration.