Serial entrepreneur Luke Johnson is set to take on Chapel Downs’ beer and cider-making business.
Owner Chapel Down will concentrate on wine making with Curious Drinks coming under a new company estalished by Johnson’s Risk Capital Partners.
Chapel Down wants to place Curious Drinks into administration, after which Risk Capital Partners will acquire the business and assets from the administrators.
The decision follows a review by the Curious Drinks board in the wake of the pandemic. With 90% of its beer sold to the on-trade, Curious Drinks has been significantly affected by the closure of hospitality venues and events.
In contrast, Chapel Down’s wine and spirit business, with an established strong brand and a more multi-channel route to market, has thrived, with overall volume growth of 38% in 2020.
Strategic review
Chapel Down Group chief executive, Fraser Thompson, said: “It has been a very difficult year for the Curious Drinks business which, as a young brand with 90% of its sales to the on-trade hospitality sector, has been severely impacted by the uncertainty and frequent shuttering of that industry.
“Following a strategic review, the board has taken the decision to focus our energy and resources on building the Chapel Down brand and business to ensure that we continue to flourish.
“While this has been a difficult decision, we are very pleased to have found in Risk Capital Partners an excellent home for Curious Drinks — and the Curious team — where the business will be able to fulfil its exciting growth potential. I’m delighted that we will be able to offer Curious Drinks shareholders shares in Chapel Down Group.”
Luke Johnson said: “We see terrific potential in the Curious Drinks business, and we’re very excited about its future, despite the challenges of the past year. Brewing will always be a cornerstone of British culture, and the craft beer revolution has only strengthened that.
“Curious is a great brand made in a fabulous facility, and with our support we believe the business can be developed further. We are particularly pleased to be taking on all Curious employees, who bring with them a wealth of insight and knowledge.”
