Independent Scottish brewer BrewDog has ended its £100,000 Development Fund to help emerging craft brewers saying the increasing number of corporate takeovers is against ‘everything craft beer stands for’.
The fund was setup in 2014 to help new craft brewers get established through the allocation of up to £100,000 of BrewDog’s profits, plus additional business support. The two recipients of the fund were London’s Brew By Numbers, and Stockholm-based CAP.
However a statement released today on the BrewDog blog announcing the end of the scheme said that ‘aggressive, lowest-common-denominator acquisitions’ by large-scale brewers of craft brands had detracted from its good intentions. Craft brewers including Ballast Point (bought by Constellation in November), Camden Town (bought by AB InBev in December), Meantime and Elysian, all agreed acquisition deals during 2015.
BrewDog said that it was exiting the scheme as it now believes that if one brewery has a stake in another ‘it can’t help but compromise the smaller of the two parties’.
Of CAP and Brew By Numbers it said: ‘We have returned our stakes to the owners of these breweries, at cost price. We will continue to support them, and other outstanding craft breweries, by proudly stocking their beers and serving them in our bars, collaborating on cool brewing projects, and offering help and advice should it ever be asked of us.
‘But we are going to do all of this by supporting their independence above all else…We don’t want our stake in others leading to any kind of potential compromise in how they do business.’