Camden Town Brewery is hoping to raise £1.5m as part of a crowdfunding pitch to finance the opening of a new brewing site in London.
The brewer, which is behind the Hells Lager brand, opened its campaign on the Crowdcube service this morning and has already brought in almost £200k from 231 investors.
“We’ve been growing at a crazy pace down here at Camden Town Brewery over the last few years,” said Jasper Cuppaidge, who founded the business in 2006.
“A new brewery has been our dream for a while now and will make sure we’re able to keep up with demand and our ambitions. We hope Londoners will get on board with the ‘Hells Raiser’ crowdfunding campaign and help us reach our target and make this dream a reality.”
Camden Town Brewery currently sells more than 150,000 pints a week, selling its products in 600 bars and restaurants, including the Byron burger chain, and in 600 additional outlets via partner wholesalers across the UK, including Waitrose and Majestic Wines.
The brewer added it needed a new, bigger site to keep up with the ever-growing demand for its beers. It has ambitions to sell 40 million pints a year by 2020 and expand its workforce from 60 at present to 200. Cuppaidge said opening a new brewery would create 100 jobs in the capital.
In the Crowdcube pitch, the brewer added its revenue had increased tenfold from £90k to about £9m in three years.
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