The majority owner of Burgundy's Domaine Chanzy is seeking to raise up to £5m via the unusual step of listing the winery on the London stock exchange.
Domaine Chanzy owns 32 hectares of vines. Image credit: Domaine Chanzy
Private equity group Olma expects to reduce its direct shareholding in the domaine from 80% to below 50% following an initial public share offering (IPO) on London’s AIM stock exchange, a spokesperson for Olma told Decanter.com.
If the IPO goes ahead, it is expected to be the first time a French winery has listed on the London stock exchange, Olma said. The offer is being arranged by WH Ireland.
Olma said that it wants to raise up to £5m for Chanzy, which holds 32 hectares of vines across Côte Chalonnaise, Côte de Beaune and Côte de Nuits.
Proceeds will be used to acquire more vineyards and grapes, increase marketing and distribution, especially in Asia and the US, and improve winemaking facilities, said Olma, which acquired control of the domaine in 2012.
Since then, it has appointed Jean-Baptiste Jessiaume, who won best young winemaker at the 2012 Hospices de Beaune auction, as Chanzy’s general director.
‘Our objective is to support Domaine Chanzy to become a top 10 wine producer in Burgundy,’ said Philippe Der Megreditchian, Olma managing partner.
Written by Chris Mercer