Scottish beer maker BrewDog has closed its latest crowdfunding raise, Equity for Punks V, having secured £26.2 million in the past 12 months.
The funds raised through the initiative will support BrewDog in expanding its breweries in both Ellon, Scotland, and Columbus, Ohio, as well as accelerating the construction of its new site in Brisbane, Australia, and its plans to build an upcoming brewery in China.
The investment will also support the introduction of the BrewDog bar franchise, offering Equity Punk shareholders the chance to set up their own craft beer outpost.
A total of 50,000 people invested in this fifth crowdfunding drive, more than the sum total of the previous four Equity for Punks crowdfunding rounds combined, bringing the total number of shareholders across the five rounds to 94,000. Since launching in 2009, the initiative has seen more than £67.2 million invested in the brewery.
BrewDog co-founder James Watt said: “We’re thrilled to have expanded our awesome global community, which is the lifeblood of our business. The craft beer revolution shows no sign of slowing down, with thousands more joining the BrewDog fold and demonstrating their support for a business built on passion and soul.”
The funding will accelerate the construction of BrewDog’s new brewery in Brisbane, Australia.
Launched in October 2017, this fifth round of Equity for Punks saw the Aberdeenshire brewer set out to raise £10 million, a target it reached in under 90 days. After receiving an influx of requests for additional investment time, the raise was extended to October 2018, with shares costing £23.75 each and issued in blocks of two, with a minimum investment of two shares for £47.50.
All Equity Punks receive a range of benefits for joining the BrewDog community, including up to 10% discount in BrewDog bars and up to 20% discount on its online shop, depending on the level of investment.
Watt added: “Our Equity Punks are the beating heart of our business, and central to our success today and in the future. Together we are driving forward our mission of making as many people as passionate about craft beer as we are. We’re proud to have an army of 94,000 behind us, joining us on this wild ride, sharing in our success and helping shape the business we become.”
The funding builds on what has been a record year for BrewDog. In August, the brewery announced its half-year trading update, showing total revenue at £78 million, up by 55% versus the same time last year. Revenue of the brewery’s bar division was up by 92% and its UK retail sales had grown by 83%.
© FoodBev Media Ltd 2019