Connect with us

Hi, what are you looking for?


Brewdog could snub London with an IPO in the US

Brewdog could snub London to list in the US when the beer bu..

Brewdog could snub London to list in the US when the beer bu..

Brewdog could snub London to list in the US when the beer business floats.

Co-founder James Watt said in an interview with City A.M. that the irreverent Scottish brewery could choose the New York Stock Exchange for an IPO.

It follows a push by Brewdog to expand into the US, having built a brewing facility in Ohio as well as a hotel and bar. The brewery has also proposed to build a bar blocking President Trump's Mexico border wall.

Brewdog would be following the likes of Pret a Manger, which is also rumoured to be gearing up for a float in the US, in looking across the Atlantic for a stock market debut.

Watt confirmed that an IPO is planned within the next five years, but was not able to give a more specific date.

Read more: It's official: Brewdog is crowdfunding again

"'When?' is a really tough question," he said. "It will all depend on market conditions and when we can get the best return for our equity punk investors. There's certainly no plans to do it in the next 12 to 18 months."

Brewdog launched its fifth equity crowdfunding round on Wednesday this week, with a goal of at least £10m, though it is hopeful it could raise as much as £50m.

Watt added said the company has decided to run another equity crowdfunding round in order to expand because "our capex requirements are high at the moment but we need to invest to continue the growth". He cited building facilities in Asia and Australia as major operations which will need funding in the next three years.

Brewdog also took a £100m investment from TSG Consumer Partners this year in exchange for a stake in the business. Watt estimates that the company needs £180m to fulfil its current ambitions.

Other developments closer to home include two new Brewdog bars in London, one in Covent Garden and one in the City.

Watt also reaffirmed the Brewdog promise not to be bought by a big beer company, saying that he feels "super-sad" when craft brewers are bought by "corporate motherfuckers".

"The big global companies like ABI are responsible for the bastardisation and commoditisation of beer," he said "It’s the antithesis of everything craft beer stands for and it’s extremely sad to see people from the craft beer community selling out. It isn’t something we support or condone."

Read more: Hip to be square: What happened after these UK craft beer brands were sold

Let's block ads! (Why?)

Original Article

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *