Former Conservative Chair Lord Ashcroft plans to initiate “open discussions” with Gusborne’s board to explore strategic options for his majority stake, potentially including a sale of the company, as announced today.
The company stated that there is “no certainty” regarding a sale or an offer at this stage.
Ashcroft holds over 40 million shares in AIM-listed Gusborne, representing 66.76% of the company. Gusborne has a market capitalization of £40.17 million.
Possible options for Gusborne include a sale, strategic merger, or debt restructuring, according to Ashcroft.
Gusborne, known for producing luxury English wines, has recently introduced its most expensive English sparkling wine, Fifty One Degrees North, priced at £195.
Founded in 2004 by Andrew Weeber and acquired by Lord Ashcroft in 2013 for £7 million, Gusborne has since grown significantly. Weeber retained a 13% stake and served as non-executive chairman until last year.
In addition to his majority stake in Gusborne, Ashcroft’s company holds a £20 million long-term secured deep discount bond.
In 2022, Ashcroft announced his intention to open discussions regarding his majority stake in recruitment firm Impellum. The company was sold the following year for £483 million, with a total price per share of 1,084.4p, including dividends. Ashcroft netted £300 million from the sale.
“At the age of 78, I am evaluating my future options and would like to conduct a similar review for Gusborne,” Ashcroft stated. “I am open to various outcomes.”
Gusborne’s Chief Executive, Jonathan White, emphasized that the company’s strategic vision remains “unchanged.” He expressed eagerness for constructive discussions that could arise from this process, highlighting the exciting phase for the growing English fine wine market.
“We appreciate Lord Ashcroft’s support in establishing Gusborne as it is today,” White added.
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By Benjamin
Former Conservative Chair Lord Ashcroft plans to initiate “open discussions” with Gusborne’s board to explore strategic options for his majority stake, potentially including a sale of the company, as announced today.
The company stated that there is “no certainty” regarding a sale or an offer at this stage.
Ashcroft holds over 40 million shares in AIM-listed Gusborne, representing 66.76% of the company. Gusborne has a market capitalization of £40.17 million.
Possible options for Gusborne include a sale, strategic merger, or debt restructuring, according to Ashcroft.
Gusborne, known for producing luxury English wines, has recently introduced its most expensive English sparkling wine, Fifty One Degrees North, priced at £195.
Founded in 2004 by Andrew Weeber and acquired by Lord Ashcroft in 2013 for £7 million, Gusborne has since grown significantly. Weeber retained a 13% stake and served as non-executive chairman until last year.
In addition to his majority stake in Gusborne, Ashcroft’s company holds a £20 million long-term secured deep discount bond.
In 2022, Ashcroft announced his intention to open discussions regarding his majority stake in recruitment firm Impellum. The company was sold the following year for £483 million, with a total price per share of 1,084.4p, including dividends. Ashcroft netted £300 million from the sale.
“At the age of 78, I am evaluating my future options and would like to conduct a similar review for Gusborne,” Ashcroft stated. “I am open to various outcomes.”
Gusborne’s Chief Executive, Jonathan White, emphasized that the company’s strategic vision remains “unchanged.” He expressed eagerness for constructive discussions that could arise from this process, highlighting the exciting phase for the growing English fine wine market.
“We appreciate Lord Ashcroft’s support in establishing Gusborne as it is today,” White added.