Press Releases | Press Release Distribution | Submit Press Release - A wine industry first ... The Cellaret announces EIS Corporate Finance initiative

You are

Home

News

Wine

A wine industry first ... The Cellaret announces EIS Corporate Finance initiative

Free Press Releases

A wine industry first ... The Cellaret announces EIS Corporate Finance initiative

Written by Francesca Law

Thursday, 19 October 2006

The Cellaret is the first wine company to successfully obtain Inland Revenue approval to qualify for the government's Enterprise Investment Scheme (EIS).

On Tuesday, it announced its landmark agreement with Enterprise Corporate Finance Limited to raise £650,000 of additional equity capital by March 2007, with a further £4 million over the following two years.

The additional funding will enable the company to capitalise on key opportunities to negotiate new relationships with suppliers, significantly increase its stocks of fine wine for trading and expand its current sales force and customer service offering.

"We apply rigorous criteria to raising development capital and focus only on those enterprises with high growth potential, sustainable business models and strong management teams"

(Susan Phillips, CEO of Enterprise Corporate Finance Limited)

On Tuesday 17 October 2006, The Cellaret group of companies announced its landmark agreement with London-based EIS investment specialists Enterprise Corporate Finance Limited. The initiative provides for the raising of £650,000 of additional equity capital by March 2007, with a further £4 million over the following two years.

The agreement marks a significant achievement towards the Board’s growth objectives of taking the fine wine merchant onto the next stage of its development.

Ray Dutton, CEO of The Cellaret said:

“The Board and I have worked hard to secure this contract with Susan Phillips and her team and I’m really delighted with the outcome. The additional funding will enable the company to capitalise on key opportunities to negotiate new relationships with suppliers, significantly increase our stocks of fine wine for trading and expand our current sales force and customer service offering.”

Just eight months ago, Ray Dutton and his team at The Cellaret Limited acquired on-trade specialist WinePortfolio Limited (formerly F&E Mays) and on-line wine merchant Wine Direct Limited. Since then the combined forces have relocated to extensive Central London premises and renovated the spectacular vaulted Tasting Room … which recently played host to the acclaimed “500m-&-Counting Tasting”: an initiative devised by Ray himself, targeting the 50+ fine dining establishments located within a 5 minute walk of the company’s well-stocked cellars.

Following the agreement, Susan Phillips (CEO of Enterprise Corporate Finance Limited) said:

“We apply rigorous criteria to raising development capital and focus only on those enterprises with high growth potential, sustainable business models and strong management teams. Enterprise’s modus operandi is to become an intrinsic part of that team providing strategic focus and ongoing advice to maximise investor value.

The Cellaret has particular appeal in terms of Return On Investment with initial tax discounts under the EIS, exemption from inheritance tax, capital gains tax freedom and, of course, the ability to distribute to shareholders in specie. Over the longer term, the maturing wine portfolio and capital value of the business has great potential for the private investor or, should I say, imbiber!”

- ends -

Notes:

Enterprise Corporate Finance Limited is authorised and regulated by the Financial Services Authority. The company enjoys a strong track record in raising development capital for unquoted companies and the creation and distribution of tax-efficient investment products.
www.enterprisecf.com

The Cellaret is the first wine company to successfully obtain Inland Revenue approval to be treated as a qualifying company for the purposes of the Enterprise Investment Scheme (EIS). Investors in approved EIS companies can benefit from generous tax relief on the initial investment and on exit as well as significant CGT deferrals.

For further information about investing in The Cellaret, please contact Ray Dutton or Susan Phillips directly:

This e-mail address is being protected from spam bots, you need JavaScript enabled to view it

This e-mail address is being protected from spam bots, you need JavaScript enabled to view it

Bookmark with:

What are these?

< Prev		Next >

[ Back ]

Free Press Releases

Bookmark with:

Sponsored Links

.