Serial investor Luke Johnson has applauded the brewing revolution and said that the renaissance of artisan brewers “reflects the truth that entrepreenurs identify changes in consumer tastes better than large corporations”.
Writing in his Financial Times column, Johnson, who is an investor and chairman of Draft House, said that while he is a strong advocate of free markets, he also applauded the shift away from generic products supplied by a tiny handful of multinationals.
He said: “Certain industries, such as the brewing trade, appear to be coming full circle and reverting to a structure that prevailed at the start of industrial capitalism. For this, entrepreneurs must be grateful: it enables us to compete against the multinationals, and resist the relentless trend towards consolidation and obligopolies.
“Thousands of ambitious young breweries – as well as some long-established family concerns – are fighting back. They are providing a broader selection of products…and minority and diverse preferences are better catered for.
“So the cycle turns. Consumers and society are winners. Water, malt, hops and yeast are being converted via fermentation by a new generation of risk-taking independent brewers, demonstrating the ever-resilient and inventive nature of entrepreneurship.”
