Brewer 'delighted' by campaign
Innis & Gunn to boost expansion as £1m raised in two days
Brewer Innis & Gunn has already hit the £1 million target it set in a crowdfund campaign on Tuesday and will now extend its plans for expansion.
By midday on Thursday the Edinburgh company had received £1,055,640 in pledges from 645 investors.
It is raising the money to open four additional Beer Kitchen bar-restaurants and invest in the Inveralmond Brewery in Perth which it bought last year and has now renamed the Innis & Gunn Brewery.
The equity fundraising campaign, through the Crowdcube platform, has 25 days to run.
Chief executive Dougal Sharp last night told an event at the company’s Beer Kitchen in Edinburgh that additional funds raised will go towards accelerating the programme of Beer Kitchens in England and North America.
“We were pleasantly surprised at how quickly we reached the target,” he said.
Investors can pledge as little as £10 for non-voting A shares while those spending more than £10,000 will get ordinary B shares which come with an entitlement to vote on company resolutions.
The company, which has a pre-fund valuation of £49 million, is considering a dividend payment. If it goes ahead, it says it will be paid to all the new shareholders.
Staff have each been given a distribution of 100 free non-voting shares. The directors have not received free shares.