Chapel Down would be ready to buy an English wine rival ‘tomorrow’ says CEO

Chapel Down would be ready to buy an English wine rival "tomorrow", its chief executive has said, as the company reports another year of sales growth.

Speaking to City A.M., CEO Frazer Thompson said the English wine industry would consolidate, and that his aim was to be "best placed to help that consolidation".

"If it came along tomorrow for the right price, I'd do it," he said.

He was commenting as the winemaker revealed a 15 per cent increase in sales during 2017, bringing its total to £11.8m.

Sales of Chapel Down sparkling wine were up 20 per cent, while the company's beer and cider brand Curious drinks grew seven per cent.

Read more: Majestic tops up investment in Naked Wines, but warns profits will fall

The company was briefly affected by late payments due to the collapse of Matthew Clark and Bibendum owner Conviviality, but stressed that it has "always been mindful of the need to ensure that we have a variety of partners to reach our customers".

Thompson told City A.M. that the situation was now resolved and he was pleased with Matthew Clark Bibendum's new ownership C&C.

"Our initial feedback is excellent," he said. "Were keen to work with them to help restore confidence."

He added that the collapse of Conviviality was a sobering moment for the drinks industry.

"Hubris is a terrible thing," he said. "When you see things happen like that its difficult. You get the sense that there was a lot of hubris there."

Read more: Chapel Down CEO: Our beer could outsell Brewdog's

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CityAM

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