BrewDog is to give away 20% of its annual profits to its staff and selected charities.
The Scottish brewer has unveiled its Unicorn Fund, which will every year see 10% of the brand’s profit shared equally among employees, and a further 10% issued to charities chosen by the workforce and its Equity for Punks investors.
This would amount to more than £45m given away in the next five years if the business achieved projected targets, it said.
“Outdated” CSR policies had “zero consideration for their real-world impact, existing merely for the purpose of an oversized cheque and an awkward photo shoot” said BrewDog co-founder James Watt. “Giving away 20% of our profits, for ever, is not about altruism; it is about impact. It’s not about profits; it is about purpose. This is the biggest community fuelled, crowdfunded charity contribution in history.”
It follows the sale of a 23% stake in BrewDog in April to American private equity firm TSG Consumer Partners, which valued the brewer at around £1bn.
In the UK, value sales of its beers are up 171% to £38.6m, with its flagship IPA, Punk, accounting for £23.8m [Nielsen 52 w/e 22 April 2017].