BOUTINOT AIMS FOR LISTING

Published: 23 July, 2008

By Christian Davis

Boutinot Limited, the Cheshire-based wine producer and distributor, is looking to raise approximately 6 million through a listing on the London Stock Exchange's Alternative Investment Market (AIM). The company produces around 45% of the wine it distributes, and holds 2% of the total UK wine sector through brands such as French Revolution, Old Git and Italia. It also distributes wines to the rest of Europe, the US and Japan. According to its advisor and stockbroker, Brewin Dolphin Securities, sales and profits are "significantly ahead of last year, with sales for the year to 31 August expected to be in excess of 30 million". The flotation is expected to value the group, which was sold by Paul Boutinot to the Greenalls Group - and then bought back when it was no longer "core" to the business - at between 16-20 million. The money raised will go towards building wineries in the Southern Rhne and South Africa, increasing its range of brands, and improving sales and distribution. Boutinot told Harpers: "We are looking to builda vinification centre and barrel ageing cellars in the Southern Rhne, and we are looking at two options in the Cape, in one of the well known wine-growing areas. "We are not taking any money out of the flotation. It is mainly to finance the projects which we hope to start in January of next year. It is too early to give details." Marketing director Lynne Flatman said they hoped to have the Pathfinder prospectus published "around November".

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