Leading Fife brewery St Andrews Brewing Co. has exceeded its crowdfunding target of £400k and is continuing to accept investment to increase beer production to meet export demand and supply their growing estate of bars.
Owner Tim Butler said: “It’s great to see such a strong start to our crowdfunding campaign. We have a very ambitious growth curve and would love to reach £600k. The equity raised will help to propel the company onto a UK-wide stage, and globally from next year onwards.”
The business currently operates four bars in St Andrews and Edinburgh. Last week they announced the acquisition of Rascals bar in St Andrews opening later this month. A fifth bar is scheduled to open at Dundee’s historic Caird Hall in November.
Tim commented: “We’re aiming to make Dundee a flagship destination for the best of Scottish beer, food and hospitality. It’s a flourishing city with world-class technology and research facilities. And with the new V&A museum and waterfront redevelopment close by, we’re ideally positioned to contribute to the renewed vibrancy of the area.”
Today, St Andrews Brewing Co. revealed proposed designs for the Dundee bar that will include an atrium seating area at the entrance, a cocktail bar, and a snug area as part of the 175-cover establishment. At 8,000 square feet, it will be one of the country’s largest craft beer bars.
At present, St Andrews Brewing Co. owned bars consume 25% of the business’s beer production, with the remaining 75% distributed to bars and venues across Scotland and retailed at seven supermarkets including Sainsburys, Asda, Lidl and Aldi. The crowdfunded investment is earmarked to fund new brewery equipment capable of quintupling their production to one million pints in 2019.
Tim said: “Our new brewing kit is not just about expansion and the ability to brew more beer. It will allow us to brew lagers for the first time, as well as give us far greater control over the production process which will improve consistency, efficiency and quality, allowing us to release sours, saisons, DIPAs and all types of hop-forward beers. With a strong brand, expanded brewery and new venues, we’re ready to take advantage of the world’s growing love affair with craft beer.”
Founded in 2012, St Andrews Brewing Co. employs 70 people and has won several highly-coveted awards, including Scotland’s Best Beer Bar at the 2017 Scottish Beer Awards.