Following its Crowdcube campaign’s quick success, Innis & Gunn announced it has decided to extend the equity crowdfunding initiative. The craft brewery took to the funding portal at the beginning of November and secured its initial £1 million funding target from more than 600 investors in less than 72 hours.
Founded in 2003, Innis & Gunn claimed to be the second-largest craft brewer in the UK. The company shared just last year almost 70% of its turnover came from oversea markets. It has won two Queen’s Awards for International Trade. The company opened its first bar-restaurant, The Beer Kitchen, in Edinburgh and within a matter of six months, it won the Best New Concept Award in casual dining.
Recently, the brewery reportedly acquired Perth-based Inveralmond Brewery after securing £3.1 million from a “BeerBond” and BeerBucking funding program. Innis & Gunn also notably paid out its first interest payments to investors this past July. Founder and master brewer at Innis & Gunn, Dougal Sharp, shared:
“When we started in 2003, the craft beer scene in the UK was virtually non-existent. Through perseverance, hard work, and outstanding beer, we have been able to play a key role in spearheading the growth of the movement in the UK and in turn build a successful international business selling our beers in over 20 markets. We have remained steadfast in our mission to expand the possibilities of what beer can be by pioneering innovative methods of imparting flavor.”
Innis & Gunn stated that additional funds that are invested through the Crowdcube campaign will go towards expansion of The Beer Kitchen retail experience in 2017 to England, a year ahead of schedule, and international expansion into North America. The company added:
“Since the success of reaching our £1m target in 72 hours, the demand to own a piece of our business has continued to be high. As such, we have decided to keep the investment opportunity open a while longer. We know from the hundreds of requests we have received for our Business Plan that there are still a lot of people who want to invest, and we want to ensure that everyone who is still considering this has the chance to do so. Our community of fans and investors have shaped the growth of the company to date.”
The campaign will now close at the end of November.
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