UK-based Derby Brewing Co. announced on Friday it has officially extended its equity crowdfunding campaign on Crowdcube. This news comes just a couple of weeks after the brewery increased its equity offering from 3.86% to 6.5% through the funding round and decreased its initial valuation from £12,459,364 to £7,192,307.60.
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 company shared:
“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.”
The brewery 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. It is now seeking £500,000 through the equity crowdfunding initiative and so far has raised more than £350,000 from over 370 investors. Speaking about the extension, managing director at Derby Brewing, Paul Harris, stated:
“We are delighted to announce that our campaign will be extended by another 14 days and will now close on 31st May. We have been really pleased with the way it’s gone so far, having exceeded 70% of our target, an amazing £350,000 pledged. We are in talks with a number of potential significant investors, who are looking to invest, so we would encourage anyone still looking to invest or increase their investment to move quickly, to avoid disappointment.”
Harris also noted that the brewery had two very successful showcase events in both London and Derby this week, and also had a meeting with the ASDA buyer about adding its product range in store.
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