Hambledon Vineyard is on the verge of being acquired by Berry Bros & Rudd in a deal that brings together two of Britain’s oldest wine institutions.
Berry Bros & Rudd, formed in 1698, has tabled an offer for Hambledon, established in 1952 and said to be the UK’s oldest vinyard, worth £22.3 million.
Symington Group of Portugal, which owns port brands such as Dow’s, Cockburn’s and Graham’s is also one of the prospective buyers.
Hambledon has been under strain since Covid despite winning numerous gold medals for its range of sparkling wines.
Martin Robinson, Hambledon’s chair, said: "Berry Bros & Rudd and Symington Family Estates are organisations with longstanding experience and good reputation in the international drinks industry.
“They know the Hambledon business well and have committed to invest in it going forward.”
Lizzy Ridd, chair of Berry Bros, added: “Over the past few months our two family businesses have provided considerable financial support to Hambledon Vineyard, following a period of sustained financial pressure.“
Rudd said it was a “strategic opportunity to diversify” for Berry Bros & Rudd and would also provide a hedge against the possible impact of climate change on both its and Symington's existing business.
Terms of the offer are 180p in cash for both the Hambledon A and B shares.