Scottish brewery and bar operator, BrewDog has announced a new partnership with TSG Consumer Partners. TSG, based in San Francisco, are one of the world’s leading growth funds with successful investments in global brands like Pop Chips and Vitamin Water.
TSG has acquired approximately 22% of BrewDog plc, with £100m in proceeds going into the business for continued expansion, and the balance to create early shareholder liquidity, in a transaction that values the company at £1bn enterprise value. The deal is designed to deliver long term capital with 10 year time horizon, and is worth £213m in total.
Co-founder James Watts stated, 'Assumptions might be made about BrewDog 'selling out', but this couldn't be further from the truth.
'We have taken on a minority investment partner, just like we did with The Griffin Group back in 2009. Martin and myself still control the company, and remain the largest shareholders.
'Other great craft brewers like Stone Brewing Co. and Dogfish Head also recently took on minority investment deals, which are very similar to the deal we have just concluded.'
Watts finished, 'Our new partners, TSG are also completely aligned with our stance on independence, and this remains entrenched into our articles of association. This new deal gives us the firepower to compete globally with the mega beer corporations and their faux craft beers, whilst remaining fiercely independent.'