Aston Manor Cider Business Could be Put Up For Sale
Aston Manor, the largest independently owned cider maker in the UK and the second largest manufacturer of cider in the country, has appointed investment bank Lazard to advise on the future direction of the business, which could result in a sale. Aston Manor is controlled by Doug Ellis, the former chairman of Aston Villa Football Club.
Established in 1983, Aston Manor has a production and packaging facility in Birmingham, orchards in Worcestershire and Herefordshire and a further production and packaging facility at Tiverton in Devon. Its product range spans from mainstream to premium ciders such as Malvern Oak and Malvern Gold through to organic cider. The company currently exports a range of ciders to more than 20 countries including America, Russia and a number of countries in Africa.
“As we look to future challenges and opportunities we are considering what options exist to bring additional investment into the business – and Lazard has been appointed to help us in this work,” explains Gordon Johncox, managing director of Aston Manor. A number of options will be considered and “there is no certainty that any action will result,” he adds. “It is true to say that we are focused on how we can continue to grow the business.”
In 2015, Aston Manor reported a drop in operating profit from £7.5 million to £5.8 million on turnover down from £123 million to £109 million.
