BrewDog looks to raise £2.3m
Controversial Scottish micro-brewer BrewDog is hoping to raise £2.3m through a share rights issue to fund a carbon neutral brewery in Aberdeen.
BrewDog, whose marketing strategies have often landed it in hot water with health lobbyists and industry watchdog Portman Group, has put 10,000 shares up for grab at a cost of £230 each in a scheme called "Equity for Punks".
Investors via the Equity for Punks scheme (www.equityforpunks.com) will receive a lifetime 20% discount on beer plus a stake in the company.
The Fraserburgh-based brewer also announced that it had received investment from US-based Keith Greggor and Tony Foglio, who were jointly responsible for growing Skyy Vodka before selling it to Campari in 2007.
The pair have invested a minority stake and Greggor will become a company director. Their key focus will be to help BrewDog grow its sales in the USA.
"During our many years in beverage alcohol, we have only seen a few game-changing players come in fresh to the industry — BrewDog is one of them," said Greggor.
BrewDog founder, 26-year old James Watt, who co-founded the company with business partner, Martin Dickie said: "We wanted to create a community of 10,000 BrewDog loving individuals to share in our future growth and share in our vision for BrewDog.
"Our marketing strategy has always involved giving up control and shortening the distance as much as possible between ourselves and the people who drink our beers: Equity for Punks is the ultimate incarnation of this philosophy.
"Once the 10,000 shares are gone, they're gone — so it's a limited and unique opportunity to get involved."
BrewDog, whose beers include Punk IPA, 77 lager and Trashy Blonde, is on track to to record a turnover in excess of £1.6m in 2009 and experienced 250% growth on last year.
