Firm to invest in bars and brewery
Innis & Gunn seeks £1m in expansion drive
Brewer launches crowdfund campaign
Innis & Gunn, the craft brewer, is seeking to raise £1 million in an equity crowdfunding campaign to expand its bars and invest in the recently-acquired brewery in Perth.
The Edinburgh-based company is launching the four-week fundraiser through the Crowdcube platform.
It will release 2% of the share capital for a minimum £10 investment. There will be voting and non-voting shareholders and the company is considering a dividend which would be offered to all investors.
The company plans to open a further four Beer Kitchen bar restaurants in addition to those in Edinburgh, Dundee and one planned for St Andrews.
It is also launching a new beer made from water gathered directly from the clouds. It used a device fitted with a turbine and condenser to fly over the Devil’s Beef Tub hollow in hills near Moffat. It collected sufficient cloud water to brew 500 pints of the new ale.
Production of all its beers will be increased threefold over the next two years at the Inveralmond Brewery which it acquired with the £3m proceeds from last year’s Beer Bond issue. It has been renamed the Innis & Gunn Brewery.
Dougal Sharp, founder and master brewer, said the company was planning to build on the growing international demand for craft beer.
“When we started in 2003, the craft beer scene in the UK was virtually non-existent.
“We have been able to play a key role in spearheading the growth of th emovement in the UK and in turn build a successful international business selling our beers in over 20 markets.”
He added: “Beer drinkers are becoming more discerning about what they drink, and insipid mass-produced beers are losing favour with a broad base of consumers.
“Despite this, craft beer still accounts for a small fraction of the beer consumed annually. This means we have substantial opportunities for growth.”
The company had a turnover of £12.5 million in 2015 and expects this to rise to £15m in the current year.
It sold more than 23 million bottles globally in 25 countries and has become the UK’s second-biggest selling off-trade beer brand.