Innis & Gunn crowdfunder for massive Edinburgh brewery tops £2m
The brewer has received pledges from more than 1,200 investors as part of its ongoing crowdfunding round, which hopes to raise a total of £3m to help fund the construction of a new beer production and packaging facility.
Innis & Gunn said the site, which it claims will be the largest major brewery in the Scottish capital for more than 150 years, will “put Edinburgh back on the brewing map”.
The brewery is expected to create around 30 jobs and provide Innis & Gunn with the potential to offer brewing services to other beer makers for the first time.
It will allow the brewer to bring its production and packaging operations in house, simplifying its current outsourced brewing model and reducing costs, while helping the business to lower its carbon footprint.
The location of the brewery has yet to be announced, however Innis & Gunn said it is scheduled to open in 2021.
The company’s “Beer Money” funding round on community investment platform Seedrs is running simultaneously to the business progressing with talks for a £15m loan, which is subject to due diligence.
'An opportunity too good to miss'
Investments in the crowdfunder start from £20 and come with a guarantee that the name of the investor – or the recipient if it is a gift – will appear on the brewery wall.
The investment also includes a personalised gift certificate, community membership, an invitation to the company‘s annual general meeting and brewery opening party, a complimentary birthday pint and priority access to new beers.
Dougal Gunn Sharp, founder and master brewer at Innis & Gunn, said: “Huge thanks to our investor community for helping us reach this crucial stage in our Beer Money crowdfund campaign.
“Our ambition to put Edinburgh back on the brewing map is now well advanced, and we have our amazing investors to thank for that.
“We’re also delighted that discussions are progressing with our preferred lender for the loan to build the main brewery structure.
“Having your name on the biggest brewery Edinburgh has seen for over 150 years is an opportunity that’s just too good to miss.”
In the three years since its last crowdfund Innis & Gunn has increased turnover to more than £25m.
The brewer also achieved its 15th consecutive year of double-digit volume growth in 2018, selling 21 million pints of beer in more than 30 countries. Total beer volume grew 14.8 per cent, driven by a rapid rise in its lager, up 38 per cent.
Its retail outlets in Edinburgh, Glasgow and Dundee relaunched as “brewery taprooms”, delivering a like-for-like sales increase of 30 per cent compared with 2017.
The business has previously announced plans to roll out the taproom concept across the UK, with two new sites each year for the next three years.
In September Innis & Gunn appointed Burger King UK chairman Martin Robinson as its non-executive chair, in a move to support the “explosive growth” of its lager and the acceleration of its retail business.