The boss of Kent’s largest wine producer has hailed a £20 million fundraising effort.

Chapel Down, which has vineyards in Tenterden, Blue Bell Hill and the Weald, reported a chance to buy £1.47 million of shares was heavily oversubscribed.

The company had already raised £18.5 million in December through a new share offering.

Chief executive Frazer Thompson said the firm was “delighted” to have reached its full target.

He said: “The £20 million raised through the placing and the open offer will enable us to significantly invest in the business to meet the growing demand for our products.

“We look forward to this exciting next stage of growth at Chapel Down.”