Scottish brewer Innis & Gunn has made a recommendation to its shareholders to consent to an investment offer from private equity firm L Catterton.
The move follows the company’s fairly aggressive expansion over the past two years, which has included the opening of four Beer Kitchen pubs in Scotland, and a new brewery in Perth. The brewer recently reported a 22% increase in its annual group turnover to more than £14.3m in 2016.
Volume over the past five years has increased by 175%, taking into account Inveralmond Brewery brands which were integrated into the Innis & Gunn business last year.
‘The craft beer category is booming globally, and this is a hugely exciting opportunity at the right time for us to build strongly on the solid foundations that have been laid to double our 2015 turnover by 2018,’ Dougal Gunn Sharp, Innis & Gunn founder and master brewer said.
‘Aside from providing additional capital to accelerate our growth plans, we believe L Catterton will strengthen our business with unparalleled expertise in brand building and a deep understanding of global consumer markets, sharing our vision and supporting our continued expansion and growth.’
L Catterton was formed in 2016 through the partnership of Catterton, LVMH and Groupe Arnault.