Innis & Gunn has announced that it will be extending availability of its four-year, initial fixed-term mini-bond, for a further month. In order to satisfy demand, the independent craft brewer will extend applications for the mini-bond, which offers investors an interest rate of 7.25% gross interest per annum, until 16 July 2015.
Alternatively, or in addition to, UK investors can opt for the BeerBucks BeerBond™, which offers an equivalent of 9% gross interest rate per annum, with the return taken in the form of ‘BeerBucks’, which can be redeemed against beer at the Innis & Gunn online shop. Applications for both mini-bonds are available for investments from £500.(1)
Innis & Gunn announced the launch of the mini-bond, which has to date raised around £2.5m, to fund the creation of a state-of-the-art brewery, bottling line and barrel store in Scotland.
Dougal Gunn Sharp, founder and CEO of Innis & Gunn, said: “We have been delighted with the response and the levels of investment coming in. We set out to raise £3m and we’re almost there. We always wanted this project to bring us closer to our fans and the wider craft beer community and it absolutely has – the feedback we have had has been phenomenal.
“Over the last week, we’ve seen surging levels of interest from a spread of investors and as a result have taken the decision to keep the mini-bond open for a further month. We’re learning as we go with the launch of this mini-bond and the mix of applicants has been of real interest to us – we’ve attracted more than 840 individuals, from Innis & Gunn ‘fan-vestors’ to well-seasoned investors, predominantly in Scotland and South England. Investment levels have ranged from the entry level £500 to over £100,000, which indicates we’re attracting an interesting cross-section of people.”
All successful applicants who applied prior to the original application deadline (1pm on 16th June 2015) will have Bonds issued as per the timetable outlined in the Invitation Document to ensure they suffer no delay or loss of interest as a result of the extension.
Since its foundation in 2003, Innis & Gunn has grown to become a highly successful international business, with an annual turnover of £11.8 million in 2014 – up from £10.5 million in 2013. Last year Innis & Gunn sold over 20 million bottles of beer and is the second biggest supplier of craft beer to the UK off-trade(2).
Innis & Gunn is currently in advanced negotiations to buy a piece of land in South East Scotland on which to build and the development of the new brewery is expected to create up to an additional 35 jobs over the next four years.
For further details on the Bond, please visit www.innisandgunnbeerbond.com.