F&P have helped one of England’s leading producers of sparkling wine to find a new source of development capital – Peer-to-Business funding.
The most imaginative aspect of this ‘alternative’ method of growth finance is how the funds have been secured; against the value of the wine itself.
Digby Fine English Wines first started working with F&P some years ago, securing £400,000 to build up stock which can take between 18 months and three years to mature. Since then it has expanded into markets for its wines not just in the UK and Europe, but also further afield Digby now exports to the US, the second largest export market for French Champagne after the UK, and has sent its first shipment to Japan.
Trevor Clough, Co-Founder and CEO of Digby Fine English Wines is in no doubt of the part F&P has played in the company’s growth so far: “Many of the more ‘traditional’ forms of lending were not open to us, as it appeared that we did not have the levels of security they were looking for. F&P, however, was a little more imaginative. It recognised a value in the wine that was maturing, and saw it as an appreciating asset. In short order, we had been listed on an appropriate platform, and the funds had been raised.
“With the help of experts at F&P, we have secured funding that has enabled us to grow at a far quicker rate, and it’s exciting to see our export business is now taking off.”
Trevor Clough, Co-Founder and CEO
The company partners with vineyards across Kent, Sussex and Hampshire to supply the finest berries which are then pressed using its own version of the Traditional Method before blending. The English chalk downs and climate provide ideal conditions for growing grapes such as Pinot Noir, Pinot Meunier and Chardonnay varieties which are Digby’s speciality. Indeed, a number of leading French champagne houses are buying land in the Kent and Sussex area.
This highly rated, award-winning label came out top in blind tastings in France against famous top French brands and is sold in leading stores including Selfridges, Fortnum & Mason and Harvey Nichols. It is also served at leading restaurants and London hotels including The Dorchester.
If you seek business funding, in the first instance contact Rolly Bakshi, Head of Business Development at F&P on 020 7433 3631. He will be able to assess your case being mindful of your needs, and proactively explain the options that are most suitable to meet your business objectives.