Kinloss brewer launches crowdfunder
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A KINLOSS-based business has launched a crowdfunding drive to secure £600,000 for international expansion.
WooHa Brewing Company wants investment of £10 upwards to further its growth while investors could benefit through the Enterprise Investment Scheme (EIS) scheme, tax reliefs designed to encourage investments in small unquoted companies.
Chief executive, Heather McDonald, explained WooHa was set-up in 2015 and already has an international portfolio comprising of the USA and countries across Europe and south east Asia, including the vast and rapidly growing market of China.
She said: "We have a strong vision about how we plan to grow the brand rapidly and in a sustainable way. Key to this expansion will be our sales team as we need more people on the ground in our key markets.
"We also need robust marketing and strong support for our international partners. The funding secured through our crowdfunding campaign will help make our ambitions a reality."
This is WooHa's second crowdfunding campaign on the Crowdcube platform. Money raised will go towards the launch of WooHa’s new 500ml can for the Chinese market. This is part of WooHa’s strategy of tailoring its products to each market, having recently developed a steel keg range specifically for the US.
The brewery moved to a fully-equipped 6.2 acre site in Kinloss in 2017 and, appointed a new head of sales with experience from BrewDog, Red Bull and Carlsberg. The brewery’s current capacity is 5,000 hectolitres per year and the aim is to grow in-house production to 88,000 hectolitres by June, 2023.
As part of its fundraising campaign, WooHa is holding a series of investor events this month in London, Manchester, Edinburgh and Inverness to offer potential investors the chance to ask questions about the business, its growth plans and its exit strategy.
Ms McDonald added: "There are many things that make WooHa stand out in the marketplace that appeal to investors, as well as existing and new customers. For example, WooHa’s experience with and focus on export markets, as well as a well-defined three to five year exit strategy. We even have our own WooHa tartan, listed with The Tartan Register of Scotland. We have big growth plans and want to give everyone a little WooHa, so now is your chance to join our clan."
Visit the Crowdcube campaign at www.crowdcube.com/companies/wooha-brewing-company/pitches/Z1nGAb
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