With less than two weeks until its highly successful equity crowdfunding campaign closes on Crowdcube, craft brewery Innis & Gunn has successfully raised more than £1.5 million from close to 1,300 investors. This news comes nearly one week after the company announced the extension of its initiative.
Innis & Gunn, which was established in 2003, labels itself 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. The brewery reportedly acquired Perth-based Inveralmond Brewery after capturing £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.
Originally, the company launched the Crowdcube campaign originally seeking £1 million and within a few days secured its funding target. Innis & Gunn stated that additional funds that are invested through the Crowdcube campaign would 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 previously noted:
“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 company’s Crowdcube campaign is set to close at the end of November.
Have a crowdfunding offering you'd like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!