Crowdfunding

Chapel Down smashes £1m target for new brewery

By Daniel Woolfson

- Last updated on GMT

Chapel Down smashes £1m crowdfunding target for new brewery

Related tags: Brewing, London stock exchange, Beer

British wine producer Chapel Down has raised more than £1.7m for its new Curious Drinks brewery through crowdfunding, smashing its original target of £1m.

The group, which launched the crowdfunding campaign in October 2015, now plans to begin construction on a new brewery in Ashford, Kent, this summer with the aim of having it up and running by 2017.

Frazer Thompson, chief executive of Curious Drinks, said: "The success of our Curious Drinks crowdfunding campaign is further testament to the revolution taking place in the British beer business."

Great beer

He added: "Customers want great beer and we're delighted that they love Curious as much as we do."

A total of 895 people invested in the business, with investments ranging from £100 to £35,000.

Thompson said: "We are pleased to welcome almost 900 new shareholders who we know will become fantastic brand ambassadors.

"Since launching Curious Drinks, we have been thrilled by its rapid success. But to have earned the support of 895 shareholders who believe in the brand and who want to support us on our journey with their hard-earned cash is truly humbling."

Local support

Almost one third of investments came from Chapel Down's native county of Kent, which it said demonstrated the support of the local community.

Investors are now set to receive a range of rewards including free tours, ongoing discounts on Curious beers and ciders, limited beer and their names being etched on brewery fermentation tanks.

The company was recently named as one of the London Stock Exchange's 1000 Companies to Inspire Britain​ for having "blazed a trail in England's winemaking and craft beer market", making it the first wine producer to be named in the report's three-year history.

Related topics: Wine, Beer, Cider

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