Following a successful plc takeover bid, the purchase is a 50/50 joint venture between the two British-owned businesses.
Lizzy Rudd, chair of Berry Bros & Rudd, said: “Together, we are committed to sustainable viticulture and winemaking, and we believe that this business, which was the first commercial English vineyard of the modern era, has the foundations and potential to lead the way in the English sparkling wine category.
“We are two family businesses who have worked together and been friends for many years. We share the same values and ethos and are delighted to be partnering to bring stability and growth to this business at a very exciting time for English sparkling wine,” Rudd added.
The bid has reached 90% shareholder acceptance and has been declared “unconditional”, which triggers the mandatory purchase of the remaining shares, leading to a 100% acquisition.
Hambledon produces wine from 200 acres of vineyard planted on the same grade of chalk as Grand Cru Côte des Blancs in Champagne, and is one of few English producers with the capacity to produce more than 500,000 bottles per year of estate-grown sparkling wine 100% from chalk soils.
Johnny Symington, chair of Symington Family Estates, added: “It was going to take something very special for us to make wine in a new country, having produced port and wine in Portugal for five generations. Following lengthy analysis of the English sparkling wine category we are thrilled to be acquiring one of the leading producers in partnership with Berry Bros & Rudd."
