BrewDog, the fast-growing Scottish brewer and pub operator, is reportedly on track to complete its latest £4m fundraising earlier than expected.
The new Equity for Punks crowdfunding programme, which sees shares sold to fans of the company, was launched on 20 June and is due to close on 22 January 2014.
Co-founder James Watt told The Herald: “It will stay open until January unless we reach the target of what we need.
“We have raised £2.5m in the first month so I am pretty confident it will close before then.”
The company also tweeted: “Rumours are true, we’re ahead of target for #EquityforPunks.”
BrewDog plans to use the new investment to fund an expansion of its brewery, its bar division and the opening of new series of bottle shops across the UK. A total of £1m was raised on the day that the offer was launched.
Meanwhile, Watt has hinted that Shepherd’s Bush in west London could be the next location for a BrewDog bar. He tweeted: “BrewDog Shepherd’s Bush? Watch this space.”
Watt also hinted at the location of BrewDog’s next overseas bar, tweeting: “In Berlin. I may or may not be looking for a location for a BrewDog Bar.”
BrewDog saw turnover almost double from £5.9m to £10.7m in 2012, a period it described as a “hell of a year”, and said it plans to “drastically increase capacity” at its brewery over the course of 2013. Pre-tax profit for the company increased from £424,101 to £485,936 and operating profit rose from £495,355 to £515,755 over the year.
David Muslin from CBRE acted on the Shepherd’s Bush deal.
