Five Points Brewing is set to boost its brewery and taproom capacity after surpassing a six-figure crowdfunding target.
The East London brewer has (at the time of publishing) raised in excess of £375k from more than 550 investors on Crowdcube, beating its £350k goal and valuing the business at upwards of £15m.
Founded by Edward Mason and Greg Hobbs in 2013, Five Points operates its own brewery, taproom and pubs, as well as supplying supermarkets with its beer.
As well as boosting capacity, the funds will be put towards new pub sites in London and strengthening its financial position for continued growth.
Mason said the round would help the business drive forward plans for expansion.
“We reached our minimum target within a week of launching,” he added. “Investors are attracted to our brand values and to our continued growth. We are delighted to see year-on-year sales growth of 17.5% for Q1 of 2024 in the brewery and 21% on the pubs side of the business.”
After supplying Tesco and Waitrose with canned craft beer in its early days, Five Points moved into premium bottled ale and secured a listing for its Best bitter with Sainsbury’s in 2021. It added further regional listings with Asda and Morrisons in early 2023, as well as working with Nando’s, Greene King, Mitchells & Butlers and Young’s.
A new listing for Best in 100 M&S Simply Food stores across London is due to go live next month.
Its supermarket distribution helped the business grow value sales by 30% in the off-trade in the past 12 months, Five Points head of sales Will Poyer told The Grocer for the recent alcohol category report.
Despite the well-documented pressures in the craft brewing sector, Five Points’ diversified approach helped it increase revenues by 19% in 2023 to £4.7m, with a positive EBITDA of £300k.
The latest funding round marks the third time Five Points has raised money from the crowd, with more than 3,000 backers investing just over £2m in the business.
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