Member Article

Wine deal proves sparkling success for NW law firm

North West law firm Brabners has advised Shellproof plc on the acquisition of the Gusbourne Estate English sparkling wine business for £7 million announced today.

The deal is funded by a £2.85 million placing, £2 million of Barclays Bank debt and existing cash reserves and constitutes a reverse takeover of Shellproof. Shellproof plc will be re-named Gusbourne plc as part of the deal.

Based in Kent, the Gusbourne Estate produces quality English sparkling wines, which won awards at the International Wine Challenge, the International Wine and Spirit Competition and the Decanter World Wide Awards.

Brabners corporate partner David Bowcock led the team advising Shellproof on the acquisition.

He said: “Having advised Shellproof on its flotation in October 2012, we’re delighted to have helped the company on the next big step towards achieving its targets.

The Gusbourne Estate is a high-profile, successful business in the sector and will hopefully help Shellproof go from strength to strength.“

The legal team at Brabners also included partner Charlotte Round, consultant Rupert Jackson and associate Mark Morrell.

Corporate advisory firm Cenkos Securities has also advised Shellproof. Law firms Loxley Legal and Harrison Clark Rickerbys acted for the sellers of the Gusbourne Estate business.

In October 2012 Brabners acted for Shellproof on its AIM flotation.

This was posted in Bdaily's Members' News section by Simon Malia .