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Statement expected soon

Innis & Gunn fans await brewery site news

Dougal Sharp Terry picExpect an announcement by the end of the week on whether craft brewer Innis & Gunn has raised the £3 million it targeted to build its brewery. If so, it may also name the preferred site.

The mini-bond, offered through a crowdfunding campaign, closed on 16 July but the Edinburgh firm has said nothing since then, suggesting it has been holding off until it settles on one of two sites. It also has to confirm it has raised all the money, having extended the deadline by a month after initially falling short.

It was an attractive offer, giving investors an interest rate of 7.25% gross interest a year, although some opted for vouchers in the form of BeerBucks offering the equivalent of 9% and which can be redeemed in exchange for beer.

The company has been looking in the greater Edinburgh area for its new brewery since the plan was revealed by Daily Business in February. The eventual site could be some distance from the city but would still enable to claim it has “come home” after its four-year exile at Tennent’s Wellpark brewery in Glasgow.

Earlier this month, in conjunction with nightclubs owner Stefan King, it opened The Beer Kitchen in Lothian Road, Edinburgh, the first of what is expected to be a chain of pubs.

Glasgow’s Ashton Lane and Merchant City are being considered for the next one, along with St Andrews.

 

 

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