Chapel Down set to build Curious Drinks brewery in Ashford after raising £1.7m from crowdfunding and new shares
Published: 09:00, 04 April 2016
Updated: 09:14, 04 April 2016
Winemaker Chapel Down has raised more than £1.7 million from new shares and a crowdfunding campaign to help it build a town-centre brewery for its beer and cider business.
The company managed to attract 895 investors through the initiative, who pledged between £100 and £35,000 towards plans to build a production facility for its Curious Drinks brand, which would double up as a tourist attraction.
The brewery will be built on a 1.7 acre site next to Ashford International Station, with construction expected to begin this summer in time for a full opening in spring next year.
The business, based in Tenterden and with vineyards near Blue Bell Hill and in the Weald, set a target of £1 million when it launched the crowdfunding campaign in October and managed to attract £1.16 million.
It raised £550,000 from placing new shares, including £275,000 from the directors of Curious Drinks and Chapel Down.
Chapel Down chief executive Frazer Thompson said: “The success of our Curious Drinks crowdfunding campaign is further testament to the revolution taking place in the British beer business.
“Customers want great beer and we’re delighted that they love Curious as much as we do. We are pleased to welcome nearly 900 new shareholders who we know will become fantastic brand ambassadors.
“Since launching Curious Drinks, we have been thrilled by its rapid success. But to have earned the support of 895 shareholders who believe in the brand and who want to support us on our journey with their hard earned cash is truly humbling.”
Curious Brew is popular in high-end restaurants, bars and hotels, with sales growing by about 40% each year.
Anyone interested in becoming a shareholder has until April 29 to make an investment of at least £25,000 but the crowdfunding campaign has now closed.
Chapel Down raised £4 million in a successful crowdfunding campaign in 2014 – the first ever by a listed company.
It used the cash to buy the lease on more land to plant vines.
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Chris Price