WooHa launches crowdfund campaign to boost exports
Heather McDonald: briefing investors
WooHa Brewing Company, based in north east Scotland, is launching a £600,000 crowdfunding exercise as part of an overall £1.5m fund-raising campaign.
The EIS-compliant crowdfund is the second on the Crowdcube platform for WooHa which operates from Kinloss in Moray.
With an established portfolio of export partners, funding is required to continue to build WooHa’s sales team, grow its international customer base and fund promotional activity.
WooHa was set-up by Heather McDonald in 2015 and began exporting to the US in the same year. Its international portfolio now comprises countries across Europe and south east Asia.
Money raised will also go towards the launch of WooHa’s new 500ml can for the Chinese market. This is part of WooHa’s strategy of tailoring its products to each market, having recently developed a steel keg range specifically for the US.
The brewery moved to a fully-equipped 6.2 acre site in Kinloss in 2017 and after appointing a new head of sales, who brings with him experience from BrewDog, Red Bull and Carlsberg, WooHa said it is primed for further expansion.
The brewery’s current capacity is 5,000 hectolitres per year and the aim is to grow in-house production to 88,000 hectolitres by June 2023.
As part of its fundraising campaign, WooHa is holding a series of investor events this month in London, Manchester, Edinburgh and Inverness. The events will give people the chance to hear from Ms McDonald about the next stage of the brewery’s journey and her three to five year exit strategy.
She said: “We have a strong vision about how we plan to grow the brand rapidly and in a sustainable way. Key to this expansion will be our sales team as we need more people on the ground in our key markets.
“We also need robust marketing and strong support for our international partners. The funding secured through our crowdfunding campaign will help make our ambitions a reality.”
This article was scheduled forTuesday 7 January but has been published today because another news website has broken the embargo.