Member Article

BrewDog raise £1m in 24 hours

Scottish independent brewers, BrewDog have raised £1m in just 24 hours as the firm offered shares directly to the public.

BrewDog’s FSA accredited ‘Equity for Punks’ scheme offered 42,000 shares at £95 each in a bid to fund its continued expansion.

The Aberdeenshire business has found success in its range of stylised craft beers, sold through its own chain of bars and through grocery retailers.

Funds raised from the share offering will go towards the development of a new brewery and a new series of bottle shops across the UK.

The firm is on track to turnover £20m in 2013 and has recently attracted investment from Keith Greggor and Tony Foglio, the team behind international brand, Skyy Vodka.

BrewDog co-founder, James Watt said: “Nobody has ever raised £1m of funding through equity sales to fans in one day. In 2011, we smashed all previous records by selling half a million pounds of shares to beer fans in two weeks – this blows that out of the water. Equity for Punks is rewriting the rules of business finance and it’s putting our customers right at the heart of our operation.

“We want to create a community of people who are as passionate about beer as we are and that will share in our growth. The support of the people has always been the driving force behind BrewDog, and the phenomenal success of Equity for Punks has proven how much our fans believe in our mission to redefine the UK beer scene.

“The energy and passion of our investors at this year’s AGM was immense. We could never have spread the craft beer revolution as far and wide without their help and we want to show our appreciation with a rip roaring celebration of great beer and great music. Our only problem next year will be finding a venue big enough to house all of our new punk investors!”

This was posted in Bdaily's Members' News section by Tom Keighley .