Burgundian eyes London Stock Exchange26th August, 2014 by Gabriel Stone
A producer in Burgundy is looking to become what is believed to be the first French vineyard to be listed on the London Stock Exchange.
According to a report by The Sunday Times, Bouzeron-based Domane Chanzy hopes to raise up to £5 million by this float onto AIM, which will enable the producer to expand export sales and develop its negociant business.
Chanzy currently owns over 32 hectares of vineyard, which are located mostly in the Côte Chalonnaise villages of Bouzeron, Rully and Mercurey. However the producer also has small plots in the prestigious Côte de Nuits village of Vosne Romanée, as well as Puligny Montrachet and Santenay in the Côte de Beaune.
Having been saved from bankruptcy in 2012 by private equity firm and Olma Invest, Domaine Chanzy has previously raised funds through French exchange Alternativa, which like AIM caters for smaller businesses than the main stock exchange.
Olma is reported to have bought the company for €5m, and, following investment in the producer’s assets and marketing strategy, the business is now valued at €10m by Alternativa. Olma is currently working with stockbroker WH Ireland with the aim of listing on AIM by the end of this year.