Earlier this month, London’s fourth largest brewery, Camden Town Brewery launched an equity crowdfunding campaign on Crowdcube to raise £1.5 million for its booming business. Within nearly three weeks, the project has successfully captured over £855,000 thanks to nearly 860 investors.
As previously reported, Camden Town Brewery was established in 2009 when founder Jasper Cuppaidge took over The Horseshoe Pub in Hampstead. He grew frustrated by the standard of London lager and from those first bottles of Camden Hells Lager, the company’s flagship beer, Camden Town Brewery’s revenue has increased tenfold, from £90k to circa £9m in three years. It currently operates three pubs in London, and plans to continue expanding
Showing his dedication to London’s brewery scene, Cuppaidge wrote on the campaign’s website, “Camden Town Brewery is committed to becoming one of the best breweries in the world. We are now the fourth biggest brewery in London. When we first started thinking about starting a brewery in 2009, we focused on making the beer as good as it could possibly be.
“The brewery started because we couldn’t find a great lager readily available in London. We felt that lager was being given a short shift and was only available from larger global breweries, who dominate the market. We wanted to brew a great lager, inspired by the ones we enjoyed on trips to Germany that was distinctive and had flavor. We make – and love – a lot of other beer styles too, but lager is the one we keep coming back to.
“Our classic beers, which are brewed year round are Hells Lager, Pils, IHL, Pale Ale, Ink, and Gentleman’s Wit. We still work tirelessly on making Hells Lager right, even though we brew it every single day of every week, we are always monitoring it and improving it little steps at a time.”
Funds from the crowdfunding initiative will go towards a new state of the art brewery to enable the company to meet its demand in house and grow its business. Cuppaidge added, “Our goal right now is to reinforce our vision up to 2020 ensuring we keep creating great quality beer and pushing strong financial growth. Beyond that, we see a huge number of potential options for the company. You only need to look at the US craft beer market to see exit multiples of 13x EBITDA. Some craft brewers like the Appalachian Mountain Brewery have already gone public and we think there’s a real appetite for a company that can grow while staying true to its roots.”
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