Innis & Gunn accepts investment offer from L Catterton

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Innis & Gunn, one of the UK’s most successful international craft brewers, today announced that holders of 99 per cent of ordinary shares have voted to accept an offer of investment in the business from L Catterton, the largest consumer-focused private equity firm in the world. The transaction of £15m in aggregate was completed today to secure a 27.9 per cent stake in Innis & Gunn.

The completed deal will fuel the Scottish based company’s growth plans in the UK and internationally.

Founded in Scotland in 2003, Innis & Gunn is the No.2 craft brewer in the UK off-trade, No.1 imported craft beer in Canada and No.2 in Sweden, and it currently exports to over 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. 

The Brewer recently reported a 22 per cent 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 per cent including sales of the Inveralmond Brewery brands which were successfully integrated into the Innis & Gunn business last year. With the capital and expertise from L Catterton on board this trajectory is set to continue. 

Dougal Gunn Sharp, Innis & Gunn Founder and Master Brewer said: “We are delighted to welcome L Catterton to Innis & Gunn at a pivotal time for our business.  

“With the backing from our shareholders we’re excited to move forward, strengthened with the support of L Catterton’s unparalleled expertise in brand building and understanding of global consumer markets.

“This is a huge 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 as we look to 2018 and beyond.”

Jean-Philippe Barade, Partner at L Catterton said: “The craft beer category is booming globally and Innis & Gunn has established a leading position in the market with its focus on high quality and distinctive beers, loved by consumers all over the world.

“With an unmatched portfolio of products, successful retail brand, and recently acquired Brewery, the potential for this brand and business is hugely exciting and it is in an exceptionally strong place to capitalise on the growth in consumer demand for craft beer.

“We look forward to working with Dougal and the outstanding team at Innis & Gunn to support their vision for growth.”

Completion of the deal gives L Catterton a minority stake of 27.9 per cent in the business, and Dougal Gunn Sharp remains the largest single shareholder.

The investment 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™.

Innis & Gunn were advised by Noble & Co and Vialex.