Earlier this week, famous brewing company BrewDog announced it projected a £70 million turnover during the 2016 fiscal year. This news comes just a few weeks after the brewery launched its mini bond on Crowdcube, which is currently nearing £7.6 million thanks to more than 2100 investors. The company also reported it is on track to increase UK sales by 80% at the end of 2016, with a projected turnover of more than £72 million.
BrewDog was founded in 2007 by Martin Dickie and James Watt. It has raised more than $30 million in its ongoing crowdfunding offers in the UK, called Equity For Punks. The brewery’s USA equity crowdfunding pitch, Equity For Punks USA, has been live for several months now on BankRoll. The offer is seeking a raise of up to $50 million under Reg A+, and BrewDog stated over $3 million has already been secured so far. BrewDog reported with a £500 minimum investment, the mini bond on Crowdcube generated more than £1 million during its first 24 hours, which ensured the brewery defended its title as the most successfully crowdfunded businesses in history. The mini bond delivers a 7.5% annual interest rate over four years, as well as discounts on brewery favorites.
Watt stated:
“Our mission is to make other people as passionate about great craft beer as we are. This year, we have smashed record after record with the amount of people we’re reaching with incredible beer, many of whom have joined the ranks of our crowdfunded beer revolution by investing in Equity for Punks or the Crowdcube Bond. The money raised via this latest investment opportunity will accelerate our growth over 2017, in order to meet the crazy demand for our beer both in the UK, internationally, and in America where we’ll soon launch our second brewery.”
Funds from the mini bond will go towards BrewDog’s ongoing global expansion as well as enable the brewery to meet the increasing demand for craft beer throughout existing and new markets. The money will also support a new sour beer facility in Aberdeenshire, expansion of the Ellon HQ, and BrewDog’s entry into the spirits industry with the launch of its LoneWolf distillery. Prototype versions of the first two batches of LoneWolf gins and vodkas were released by the spirits division this month. Other funds will go towards the BrewDog’s US brewery in Columbus, Ohio.
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