'We are the Guy Fawkes of brewing': Craft beer pioneers BrewDog snub the City with world record £25m crowdfunding bid
- BrewDog offers 526,316 shares through its Equity for Punks scheme
- Minimum investment in this latest round is £95 for two shares
- Crowdfunding is part of the company's mission to 'burn the established system'
- Claims the City gave rise to the '
commoditisation of beer'
Funky craft beer and bar company BrewDog has embarked on a world record £25million crowdfunding bid - shunning the banks and other traditional forms of corporate finance in the process.
The Aberdeenshire company, which revels in its anti-establishment image, wants to raise the cash by offering 526,316 shares to the public through its Equity for Punks scheme. The minimum investment in this latest round is £95 for two shares.
It values the company at a whopping £283million and is more than five times the amount raised in its last Equity for Punks round back in 2013.
Crowdfunders: Brewdog's co-founders Martin Dickie and James Watt revel in their anti-establishment status
The Equity for Punks scheme is
The money would be used to build a new brewhouse with three times the capacity of its existing facility in Ellon, the company said. It also plans to open more UK bars, create a new beer and fund projects including a craft beer hotel and a distillation plant.
In the past BrewDog's management has made no secret of its contempt for banks and financial institutions and today it reiterated its stance.
James Watt, BrewDog co-founder, said in a press release: 'The craft beer revolution has succeeded in redefining beer and Equity for Punks is redefining business finance. By making profit king, the financial institutions of the City gave rise to the bastardisation and
'To grow BrewDog whilst being true to our values, we have had to build a whole new business model. Equity for Punks puts the people who really care about our beer in control and keeps the passion and integrity in people's beer glasses.'
'We are not Rockefeller. We are Guy Fawkes. We are burning the established system - the status quo - down to the ground and forging a new future for business from the flames.
'We are putting the fat cats out to pasture and empowering everyone to be masters of their own destiny by investing in our passion for craft beer.'
Fizzing: BrewDog was founded eight years ago, and now exports to 55 countries, while employing 360 people
BrewDog was founded eight years ago, and now exports to 55 countries, while employing 360 people.
Earlier this year, BrewDog announced its sixth consecutive year of record growth. It increased its annual turnover by 64 per cent to over £29.6million in 2014, compared with £18million in 2013. Its turnover is expected to exceed £50million this year.
Crowdfunding is typically used by small companies or start-ups and investors are often offered rewards such as free or discounted products in return for their investment. In BrewDog's case, shareholders can get discounts in the company's bars or when buying its beers online, and receive a free beer on their birthday.
Craft beer is now so popular that the Office for National Statistics has added the product to the basket of goods it uses to calculate inflation.
Despite pubs closing at a rapid rate, the number of UK independent brewers has increased to more than 1,400 - the highest number since the second world war.
Craft brewers are distinctive in that they are independently owned and generally focus more on flavor and brewing techniques.
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