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Tue 5th Sep 2017 - Innis & Gunn set to sell 27.9% stake to private equity firm L Catterton
Innis & Gunn set to sell 27.9% stake to private equity firm L Catterton: Scottish brewer and retailer Innis & Gunn has made a recommendation to its ordinary shareholders to consent to an offer of investment in the business from L Catterton, the largest consumer-focused private equity firm in the world. Completion of the deal would give L Catterton a minority stake of 27.9% in the business, and Innis & Gunn founder and master brewer Dougal Gunn Sharp will remain the largest single shareholder. The offer from L Catterton reflects and confirms the price paid by the crowdfunding community in November 2016, when Innis & Gunn raised £2.4m through its first equity crowdfunding campaign, AdventureCapital. Founded in Scotland in 2003, Innis & Gunn said it had grown to be the number two craft brewer in the UK off-trade, number one imported craft beer in Canada and number two in Sweden, and exports to more than 28 countries. Expansion in the past two years has seen the successful opening of four Beer Kitchens in Scotland, and has established the brewer’s home for barrel-ageing and innovation at the new Innis & Gunn Brewery in Perth. Last month, it reported a 22% increase in its annual group turnover to more than £14.3m in 2016. This was the 13th consecutive year of volume growth, with volume over the past five years increasing by 175% including sales of the Inveralmond Brewery brands that were successfully integrated into the Innis & Gunn business last year. Gunn Sharp said: “The craft beer category is booming globally, and this is a hugely exciting opportunity at the right time for us to build strongly on the solid foundations that have been laid to double our 2015 turnover by 2018. Innovation and quality have been at the heart of Innis & Gunn’s success since day one, and this continues to drive us forward. Aside from providing additional capital to accelerate our growth plans, we believe L Catterton will strengthen our business with unparalleled expertise in brand building and a deep understanding of global consumer markets, sharing our vision and supporting our continued expansion and growth.”


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