Last month, UK-based Red Squirrel Brewing Co. launched an equity crowdfunding campaign on Crowdcube with a mission to raise £500,000. During its run on the portal, the company has overfunded and has decided to extend its funding round.
Red Squirrel, which was founded in 2010 by Greg Blesson and Jason Duncan-Anderson, is “comprised” of a modern brewery in the Hertfordshire countryside, a chain of 3 craft beer shops under “The Brewery Shop” and has a distribution network that covers both UK and international trade. The company shared:
“We are looking for investors to share in the development of the Red Squirrel Group. We have two key ranges of craft beer, brewed by our team of passionate brewers. The two key ranges include the Red Squirrel Range, where tradition meets modernity, and Mad Squirrel, which we consider to be purely contemporary and innovative. Our beers are currently distributed within our chain of craft beer outlets under The Brewery Shop brand and within both the UK domestic market and export scene. We currently have three stores aimed to combine the welcoming and pleasant aspects of an old fashioned boozer with the aesthetic and service of a high-end drinks retail business.
“There are plans in place to upscale the “The Brewery Shop” model to ten outlets in provincial and mainstream towns within Southern England, together with expanding our modern craft brewery, based in Hertfordshire, from 5000HL (50,000litre capacity) to 15,000 HL (150,000 litre capacity).”
To date, the brewing company has received various awards, including SIBA 2015 Bronze and Gold medals, bronze medal at National Cask Beer Competition 2015, and Black Lager 2014 Gold medal. The funds will now be used for the expansion of brewery with increased capacity and site infrastructure inclusive of CapEx investment and the opening of additional Brewery Shop outlets.
During a recent update, the Red Squirrel Brewing Co. crew shared details about the campaign’s extension:
“Since our roadshows and London event where people have at first hand better understood our business model, we have been inundated with enquiries and requests for our business plan and as a result the board have decided to extend the pitch date, to give those individuals the opportunity to invest in our exciting business.”
- Solicitors are now today drawing up the Lease of our New Fourth Outlet – Biggest outlet Yet – 3000 Square feet in a prime location.
- New focused brand arrange approved – Three categories – Red Squirrel / Mad squirrel / Innovation – This will enhance quality and availability.
- Award winning Hopfest Pale Ale bottled for the first time today in 500ML due to the popularity.
Red Squirrel’s campaign will now close on February 28th.
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