BrewDog held its AGM at the AECC in Aberdeen last weekend in front of 6000 fans. The event allowed founders James Watt and Martin Dickie a platform to announce an official change in their constitution - entrenching the brewery’s independence by passing a motion to ensure that BrewDog can ‘never be sold to a monolithic purveyor of industrial beer’.
The recently reported 2015 financial results from the craft brewery (an extract from which is included below) propelled it to number 10 in the Sunday Times Fast Track 100 companies, with a 3-year annual profit growth of 120%. BrewDog reported a revenue increase of 51% to £44.7m in 2015, and a gross profit increase of 48% to £17m. Sales in the UK surged by 131%, making BrewDog the number one craft brewery in the UK.
James Watt, co-founder of BrewDog commented:
“We’ve been struggling to keep up with demand for our beers, so we have invested £25m in increasing our brewing capacity in Ellon. The new capacity comes online in four weeks time, which is good because we can currently only meet 60% of the demand for our beers!”
Crowdfunding over the AGM weekend drew more than £600,000, tipping the total over £16m with one week still to go of Equity For Punks IV. The 40,000-strong army of shareholders will be funding the building of a bigger brewery in Ellon, which will increase capacity fivefold, as well as launching BrewDog’s US brewery in Columbus, Ohio. BrewDog is investing over $30m to build its brand new brewery Stateside to help meet the demand for BrewDog beers in America.
The craft brewery will also be investing in building a sour beer facility in Aberdeenshire, launching BrewDog’s distillery, Lone Wolf, (bespoke spirits will go into production in the next couple of weeks), and other projects such as developing the BrewDog canned beer range and growing the international bar division with new venues pencilled for Amsterdam, Malmö and Warsaw.
BrewDog has raised more money through equity crowdfunding than any other company on record, and is famous for its boundary-pushing stunts to further the craft beer revolution. This latest round has raised £16m to date. And closes at 11am on 20th April 2016.