Demand drives Innis & Gunn to extend crowdfunding initiative as target smashed

Craft beer brewery, Innis & Gunn is extending the equity crowdfunding initiative on Crowdcube, due to demand. It will now close at the end of this month.

The firm launched on the site at the start of November and secured its initial £1m funding target from more than 600 investors in less than 72 hours. The current figure raised today is over £1.5m from 1,232 investors.

Recently, the brewery reportedly acquired Perth-based Inveralmond Brewery after securing £3.1m from a 'BeerBond' and BeerBucking funding program. Innis & Gunn also notably paid out its first interest payments to investors this past July.

Founder and master brewer at Innis & Gunn, Dougal Sharp, said, “When we started in 2003, the craft beer scene in the UK was virtually non-existent. Through perseverance, hard work, and outstanding beer, we have been able to play a key role in spearheading the growth of the movement in the UK and in turn build a successful international business selling our beers in over 20 markets.

'We have remained steadfast in our mission to expand the possibilities of what beer can be by pioneering innovative methods of imparting flavor.”

Innis & Gunn stated that additional funds that are invested through the Crowdcube campaign will go towards expansion of The Beer Kitchen retail experience in 2017 to England, a year ahead of schedule, and international expansion into North America.

Founded in 2003, Innis & Gunn claimed to be the second-largest craft brewer in the UK. The company shared just last year almost 70% of its turnover came from oversea markets. It has won two Queen’s Awards for International Trade. The company opened its first bar-restaurant, The Beer Kitchen, in Edinburgh and within a matter of six months, it won the Best New Concept Award in cause dining.