Former Greenalls wine business to join stock market

Related tags Stock market Wine

A British wine production and distribution firm is set to become the first dedicated wine company to join the stock exchange.Boutinot, formerly part...

A British wine production and distribution firm is set to become the first dedicated wine company to join the stock exchange.

Boutinot, formerly part of Greenalls Group, plans to raise £6m for expansion when it floats on the Alternative Investment Market in November.

It aims to use the cash to build new wineries in its two distribution centres in France and South Africa. It also wants to increase its range of brands which currently include French Revolution, Italia and Old Git.

Boutinot supplies 15.5 million litres to the UK market, making it the sixth-largest player with a market share of about two per cent.

It expects the wine industry to follow UK pubs and brewers by consolidating over the next three to five years.

Founder Paul Boutinot said: "Our success is now being reflected in the significant rise in both turnover and profits and we have now reached a stage in our development where we require additional funding to increase the rate of expansion."

The company, based in Gatley, Cheshire, was formed in 1980 and sold to pub operator and wholesaler Greenalls in 1992. Mr Boutinot bought the company back in 1995.

There are no other wine suppliers on the stock exchange at present, although there are wine divisions within larger listed groups such as Scottish & Newcastle, Allied Domecq and Diageo.

Related features:

Budget wines from Europe and the New World(from Flavour​ magazine, May 30, 2001. Article can be found in the Drink section of Your Business on thePublican.com under the heading 'Wine')

Related topics Wine

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