Scotland’s biggest independent brewery Brewdog just revealed that it will aim to raise £25 million ($US37 million) via its crowdfunding scheme Equity for Punks in a bid to stop financial institutions from cashing in on its fundraising efforts.
The group, which has 27 bars around the world, announced in a statement that it will release
526,316 shares to the public, for a minimum investment of just £95 for two shares, via its UKLA-accredited investment scheme.
This will be five times more than what it raised in 2013.
“The craft beer revolution has succeeded in redefining beer and Equity for Punks is redefining business finance,” said James Watt, BrewDog co-founder in a statement sent to Business Insider. “By making profit king, the financial institutions of the City gave rise to the bastardisation and commoditization of beer.
“To grow BrewDog whilst being true to our values, we have had to build a whole new generation of business model. Equity for Punks puts the people who really care about our beer in control and keeps the passion and integrity in people’s beer glasses.”
“We are not Rockefeller. We are Guy Fawkes. We are burning the established system — the status quo — down to the ground and forging a new future for business from the flames. We are putting the fat cats out to pasture and empowering everyone to be masters of their own destiny by investing in our passion for craft beer.”
Brewdog was founded by Martin Dickie and James Watt in 2007 with second-hand equipment. It is now Britain’s fastest-growing food & drinks brand. It has opened 27 bars worldwide since 2010 and exports to 55 countries around the world. It employs more than 360 staff.
Earlier this year, Brewdog announced its sixth consecutive year of record growth. It increased its annual turnover by 64% to over £29.6 million in 2014, compared with £18 million in 2013. Its turnover is expected to exceed £50 million this year.