Edinburgh brewer, Innis & Gunn is set to use the success of its latest round of crowd-funding to significantly expand the reach of its Beer Kitchen outlets, and double its turnover to £25m in the next three years.
The company had set itself a target of one month to raise £1m through selling bonds – a target which it surpassed in 72 hours. 'I didn’t dream we'd get to that level so quickly,' said founder and master brewer Dougal Sharp.
So far, the company has raised £1.35m, though with another Crowd Cube event due this week, that number is sure to rise further.
According to MD James Coyle 'All of that overfund will be used to push down into England and open a fourth brewpub in Toronto.' Until two years ago, Canada was the brewer's biggest market.
Currently, Innis & Gunn has two existing Beer Kitchens, in Edinburgh and Dundee, with a third venue due to open in St Andrews in two weeks, and a fourth slated for Glasgow in spring 2017.
The brewer is now considering sites in the north of England: Chester, Harrogate, Newcastle and Leeds, though MD David Hall, who runs the Pub Kitchens side of the business, admitted that if they were approached by a partner in London they would consider that too.
'It's a "pub with good food" concept,' said Hall. 'A great shop window for our brand. There are a lot of big [hospitality] brands in northern cities, but we are a bit smaller. Each venue will have a bit of autonomy.'