Just days before its equity crowdfunding campaign on Seedrs is set to close, Scottish brewery Innis & Gunn successfully secured its initial £3 million funding target. The campaign launched in November and has attracted more than 2,100 Seedrs investors.
As previously reported, Innis & Gunn claims to be the second-largest craft brewer in the UK and recently opened its first bar-restaurant, The Beer Kitchen, in Edinburgh. Within a matter of six months, the restaurant won the Best New Concept Award in casual dining and the brewery reportedly acquired Perth-based Inveralmond Brewery. The company £2.4 million in funding through its Crowdcube round less than three years ago.
“Since our launch in 2003 Innis & Gunn has led the craft beer movement and become one of the most successful modern craft beer businesses of its time, enjoying 15 years of uninterrupted volume growth. Our beers can be bought in over 30 countries and we have twice won the Queen’s Awards for International Trade.”
Innis & Gunn also claimed its beers are amongst the most awarded in the world and the brewery itself is one of only a handful of modern, independent beer businesses that have grown beyond 100,000 hectolitres (1 hectolitre = 100 liters) without having been acquired by one of the big brewers. Speaking about the brewery’s success since launching, Dougal Gunn Sharp, Founder and Master Brewer at Innis & Gunn, stated:
“Our ultimate goal has always been to have our own brewery on our home turf, a brewing focal point for the city. We want to put Edinburgh back on the international brewing map, and with this investment secured we’re going to be able to do just that. We’ve got ambitious growth plans for the future and the brewery is going to be instrumental in reaching our long-term potential. With this key step now in place, we’re looking forward to a very bright future.”
Further commenting on the campaign’s success, Gunn said:
“I am personally absolutely delighted by the response we’ve had to our crowdfund and the endorsement of our beers, our business and our brand. I’d like to extend a warm welcome to the 2000+ investors who have joined our community since the fund opened. We’ve always said our fans are one of our biggest strengths as a business, and we can’t wait to welcome you all to the brewery next year for the opening party to share a celebratory pint. Massive thanks again to everyone who has supported us, it is hugely appreciated.”
“All of your investment will go directly into the construction of a large scale brewery that will forever secure our long-term growth capacity and Innis & Gunn’s future in Edinburgh, and a home for our brand, our staff and our community.”
Through the campaign, Innis & Gunn is offering 1.96% in equity at a £149,750,989 pre-money valuation. The campaign is set to close next Wednesday.
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