Alresford: Winery gains £7.5m PNC backing to support growth
Hattingley Valley, the family-owned Hampshire winery specialising in premium English sparkling wines, has secured a £7.5 million facility from PNC Business Credit, to support its continued growth plans.
The asset-based lending facility from the UK arm of PNC Financial Services Group, will be used to secure the foundations of the business following 10 years of significant growth, and provide further investment into the development of Hattingley Valley wines.
With a strong international presence in 16 countries, Hattingley Valley plans to expand significantly; entering into new markets in Switzerland, Singapore, and Malaysia, and continuing to grow in the UK and existing markets, with a focus on the USA, Japan, the Nordics, Australia, and Germany.
Bruce Green, finance director of Hattingley Valley, said: “We are very excited about the next phase of our growth and, with PNC’s support and financial backing, we now have a flexible working capital finance facility to support the ongoing development of our wines and expansion into new markets. This investment shows great confidence in our business and in the English sparkling wine industry as a whole. We look forward to working with PNC to keep Hattingley Valley at the forefront and our wines firmly on the global map.”
Last year, Hattingley Valley saw a 45% year-on-year increase in sales, consistent with growth levels from previous years, and recently claimed its 100th award in the first tranche of the 2020 International Wine Challenge. Specialising in award-winning English sparkling wines made in the traditional method, its core range encompasses a Rosé, Blanc de Blancs, and its most popular blend, the Classic Reserve. Hattingley Valley celebrates its 10th anniversary this year.
