On Thursday, Wellington-based brewing company ParrotDog announced its upcoming PledgeMe initiative. The company will be seeking between $1.2 million and $2 million for its new Lyall Bay brewery.
Founded in 2011 by Matt Stevens, Matt Kristofski, and Matt Warner, ParrotDog is described as one of the “leading” craft breweries in the Wellington area and has been award Champion International Small Brewery along with two trophies, two gold medals, and multiple silver medal at the Australian International Beer Awards. The company revealed that by moving into a brewery, it will be able to triple production fairly quickly and will have the space to create a brew bar for local Wellington residents.
Stevens shared:
“We’re excited about giving our supporters an opportunity to be involved in what we have planned for ParrotDog. We believe offering our investors a direct return on their brewery investment will motivate them in different ways, and help create a community of support around the company. Up until this point, we’ve done everything with debt. We are now turning to our supporters and offering them the opportunity to purchase equity in the company to help take us to that next level of production.”
He also noted:
“We’ve recently put a lot of focus towards the Australian market, with distribution now in Victoria and New South Wales, as well as securing a partnership with Coles Group Australia. Those wins were a great achievement for us but there’s still so much room to grow.”
PledgeMe CEO Anna Guenther added:
“We’ve seen such well supported campaigns come out of the beer industry. The fans of these companies are often investing because they love the product, and want to help share what they love with the world.”
ParrotDog Shares are priced at $1 each with a minimum investment of $500. Investors will receive additional rewards with each share parcel sold, including benefits such as a personalized glass handle at the bar, beer, and food discounts. Those that invest over $35,000 will receive voting shares. The campaign is set to launch on August 10th.
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