Just a couple weeks after announcing plans to raise funds on Crowdcube, UK-based Derby Brewing Co. officially launched its campaign on the equity crowdfunding platform. The brewery is currently seeking £500,00 as it prepares to expand and open new venues. As previously reported, Derby Brewing Co. was founded in 2004 and is headed by Trevor Harris, who began his brewing career more than 25 years ago. The brewery stated:
“After over a decade of unprecedented growth, in excess of 700%, a multi award-winning brewery, four award-winning venues and now employing more than 100 people, DBC is offering its customers and lovers of great venues and beers the chance to become part of the business. With the huge opportunity in the beer market and in great venues, after years of organic growth, the decision was made to push on and grab the opportunity.”
Derby Brewing Co. claimed that it has grown nearly 3500% in the last decade, has sold nearly 450,000 beverages, had a turnover in excess of £3 million in 2016, and grown into the double digitals every year with an average growth of 75% year on year. Funds from the Crowdcube campaign will be used for the following:
- Crafted & new Ale: £38,000 origination, purchase & design of labels, bottling and brewing stock
- Development of venues: £70,000 Greyhound development, £30,000 Queens Head fit out of extension & £70,000 Kedleston additional 5-6 bedrooms
- Opening a new site: £220,000 for partial renovation and fit out
- Development of brewery: £60,000 increasing capacity
- Launch of exporting: £25,000 new labels and cash flow
- Further funds: Will allow a greater acceleration of growth
Since its launch, the campaign has successfully secured nearly £100,000 from more than 60 investors. It is set to run until mid-May.
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