Chapel Down Halts Sale Plans Amid Poor Harvest and Financial Losses

England's largest winemaker faces a challenging year with reduced grape yields and declining revenues, prompting a strategic shift.

Chapel Down, based in Kent, has decided to remain listed on the London Stock Exchange after no suitable offers emerged from its strategic review initiated in June.
The 2024 grape harvest is expected to be approximately 1,875 tonnes, less than half of the previous year's yield, due to adverse weather conditions impacting crop quality.
Shares in Chapel Down have plummeted nearly 20% following the announcement, reflecting investor concerns over the company's financial outlook.
The company anticipates a pre-tax loss for the year, influenced by the costs of the strategic review and reduced sales, particularly in the supermarket sector.
Despite the setbacks, Chapel Down remains committed to expanding its vineyards and maintaining the quality of its award-winning wines.