Scots brewer reveals 'interest'
BrewDog attracting big players in drinks sector
The north of Scotland brewhouse and bars company has always revelled in its maverick reputation and refusal to conform to the normal rules of business.
But sooner or later its growth was bound to catch the attention of the mainstream brewers.
Co-founder James Watt tonight tweeted that “the bigger companies want to buy BrewDog”.
He says nothing more about this apparent interest and it’s anyone’s guess who might be sniffing the Ellon brewery’s hops. True to form, he also tells them where to go.
BrewDog is expanding globally without needing much help beyond its army of craft brewery fans who are now spread worldwide.
The company was valued at about £300 million at the end of last year following its ‘equity for punks’ fund-raising. Current turnover is £50 million, up from £29.6m in 2014.
Mr Watt and his business partner Martin Dickie have been able to invest £20m expanding production in Aberdeenshire and the company exports to 55 countries.
They have bought a 42-acre site in Columbus, Ohio, where they will manufacture beers for the US market.
Tonight Mr Watt was also tweeting about its new US bar. It has revealed today in the US that it will be in Franklinton, Columbus. The brewery is scheduled to open in July.
The company still needs to raise £11.5m to hit a £25 million fourth round Equity for Punks crowd funding target by April.
The Equity for Punks crowd funding drive has already broken crowd funding records and has so far attracted 20,335 investors who have collectively pledged £13.5m.
The fourth-round fundraising, which will see BrewDog issue 526,316 shares priced a £47.50 a share, raised £5m within 20 days of launch, though take-up then slowed.
The latest investment sum includes contributions from who bought into BrewDog’s mini-bond issue it launched last September in partnership with CrowdCube.