BrewDog announces plans to build Australian craft brewery
Scottish craft brewing king BrewDog has announced it will build a brewery in Australia.
The news follows San Francisco's TSG Consumer Partners - one of the world’s leading growth funds with successful investments in global brands like Pop Chips and Vitamin Water - acquired approximately 22% of BrewDog plc, with £100million in proceeds going into the business for continued expansion.
James Watt, co-founder at BrewDog, said: “We are growing mega fast at the moment. We have broken the record for most consecutive years on the Sunday Times Fast Track 100 and in 2017 we are forecasting our growth will be even faster. We recently shared our ambitious 5-year plan with our Equity Punk shareholders, which included adding more capacity in Ellon and Columbus as well as building new breweries in Asia and Australia. All of these projects are immediate opportunities and they all link completely back into our core mission of making other people as passionate about great craft beer as we are. This deal will enable us to take our business, and our community’s investment in BrewDog, to the next level.”
The company noted on its website: "The deal is also great for our Equity Punks. At the £1bn valuation, shares purchased in Equity for Punks I, which closed in February 2010, are now worth 2,800% of their original value. Even craft beer fans who invested in Equity for Punks IV last year have seen the value of their shareholding increase by 177% in just one year."
BrewDog said joining with TSG didn't mean it was 'selling out.'
"Martin and myself still control the company, and remain the largest shareholders," Watt said. "Other great craft brewers like Stone Brewing Co. and Dogfish Head also recently took on minority investment deals, which are very similar to the deal we have just concluded.
"Our new partners, TSG are also completely aligned with our stance on independence, and this remains entrenched into our articles of association. This new deal gives us the firepower to compete globally with the mega beer corporations and their faux craft beers, whilst remaining fiercely independent."
No further details on the Aussie brewery have been made available, but the company has also flagged plans for a BrewDog bar here. It has already opened 44 BrewDog bars around the world.
Last month it announced it will open the world's first crowdfunded beer hotel in Columbus, Ohio.
Called “The DogHouse,” the £6m hotel will serve beer breakfasts, offer beer-based spa treatments, a beer fridge in the shower and hot tubs filled with Punk IPA beer.