Enthusiastic response to campaign
Innis & Gunn boosts expansion on investor appetite
Craft brewer Innis & Gunn says it will bring forward its expansion plans and is extending its fund-raising campaign on the back of an enthusiastic response from investors.
The Adventure Capital campaign was due to close at the end of the month but will continue while it attracts supporters wanting to take up the offer.
By today (Sunday) the Edinburgh company had achieved 44% more than its original £1 million target, from 1,171 investors.
The brewery launched the campaign to bondholders on 31 October and then to the public on the following day. It aimed to sell 2% of its share capital. The £1.44m so far raised represents 2.85% of the company’s value of £49m.
Since launching the campaign, it has received 400 requests for its business plans, more than any other current Crowdcube powered crowdfund campaign.
Founder Dougal Sharp described the response as “incredible”. He added: “We are overwhelmed by the response. It gives us a lot of options.”
The additional funds raised will go towards expansion of The Beer Kitchen retail experience in 2017 to England, a year ahead of schedule, and international expansion into North America.