Brewer Innis & Gunn accepts £15m investment

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Innis & GunnImage source, Innis & Gunn
Image caption,
Innis & Gunn's revenue grew by 22% last year to £14.3m

Craft brewer Innis & Gunn will accept a £15m investment by a major US private equity investor in consumer goods and retail.

L Catterton is investing the finance in exchange for a 28% stake in the Perth firm.

Shareholders have accepted the offer, which was tabled earlier this month, with 99% voting in favour.

The finance helps the brewer accelerate its recent expansion, intended to double turnover between 2015 and 2018.

The new investment values the brewer, formerly based in Edinburgh, at £58m.

Its revenue grew by 22% last year to £14.3m.

The company sold 27m bottles of beer, making it the second biggest off-trade craft beer producer in Britain.

It became the top imported craft beer in Canada and number two in Sweden, while exporting to 28 countries.

Last November, the company raised £2.4m in capital funding from crowdfunding, leaving it with 2,000 investors.

Jean-Philippe Barade, a partner at Connecticut-headquartered L Catterton, said: "The craft beer category is booming globally and Innis & Gunn has established a leading position.

"The potential for this brand and business is hugely exciting and it is in an exceptionally strong place to capitalise on the growth in consumer demand for craft beer."

Scottish craft brewer Brewdog did a similar deal, worth £213m, in May with a San Francisco private equity firm, giving it a 22% stake in the Ellon-based company.

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