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Hambledon reaches £2.75m crowdfunding target

Published:  29 May, 2015

Hampshire wine producer Hambledon Vineyard has secured its £2.75m crowdfunding target and has raised the investment opportunity to £3.5m.

The company launched the crowdfunding platform through CrowdBnk in March with the launch of its convertible 'English fizz mini bonds'.

The proceeds are intended to expand production and build up stocks, the producer said. It has previously stated its sales target of 200,000 bottles within five years.

Owner Ian Kellet said he was delighted with the response to the mini bond, which had a minimum investment of £1,600.

"We are delighted with how our fundraising has gone," he said. "Our aim is simple - selling Englishness to the world in the form of an eventual one million bottles per annum of the highest quality English fizz, from England's oldest commercial vineyard and the 'birthplace' of cricket. We believe that Hambledon has the terroir, the potential for category leadership, and the team to produce the finest brand of English sparkling wine recognized across the world."

Hambledon Vineyard is also looking to develop sales to UK trade customers and last year entered into a mutually exclusive agreement, with Fields Morris & Verdinthe wholesale agency division of Berry Brothers & Rudd.

Yesterday Gusbourne Estate announced it was raising £3.57m from shares to fund further investment and support the development of the premium sparkling wine brand.