Lord Spencer of Alresford has boosted his stake in Chapel Down Group, increasing it to over 27% amid a notable drop in share price since its December 2023 flotation. Despite the company's potential, with over 1,000 acres of vineyards, its shares have decreased by roughly 40%, currently at 34p. Spencer's move signifies confidence in the company, which is undergoing leadership changes and has expressed that no takeover offers could enhance shareholder value. The second-largest shareholder is Nigel Wray with a 13.8% stake.
Lord Spencer's acquisition pushes his ownership in Chapel Down Group above 27%, reinforcing his status as the largest shareholder amid significant share-price decline.
Chapel Down Group, based in Kent, produces both still and sparkling wines and has partnerships with prestigious events like Ascot and The Boat Race.
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