Innis & Gunn has launched a mammoth crowdfunding campaign seeking £3m to build its first large-scale brewery in Edinburgh.
The Scottish craft brewer has raised £1.2m from 939 investors in just over a week since launching on Seedrs. The raise offers a 2% stake in the business, valuing it at £149.8m.
It will use all the cash raised to build the first major brewery in the Scottish capital for over 150 years, with a capacity of 400,000 hectolitres, or 70 million pints.
“Since we started Innis & Gunn we have dreamed of building a large-scale brewery in Edinburgh, to create a real home for our business, our people and our community,” the company said.
“However, building a large-scale brewery is expensive so we wanted to ensure that we had enough scale in our business to support the decision. After 16 years we are now ready to realise our dream.”
Since its formation in 2003, Innis & Gunn has experienced 15 years of “uninterrupted growth” with sales reaching £21.4m in 2018. It has sold more than 21 million pints across 30 countries.
The company has already secured over £5m from the crowd, raising £2.7m in 2015 and smashing its £1m crowdfunding target in 2016 to raise £2.5m.
In 2017, it also received a £15m private equity minority investment from US PE firm L Catterton.
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