With less than three days to go in their investment crowdfunding, Croydon-based craft brewers have exceeded their target by almost double as they seek to launch a Porter which they hope will offer an alternative to muti-national giant Diageo’s Guinness.
Anspach and Hobday were established in Bermondsey in 2014 and opened their Croydon brewery in 2018, thanks to a similar kind of crowdfunding investment, which raised £525,250 from 542 investors, and has helped seen the business quickly grow to a £1million annual turnover concern.
This time round, with the launch of their London Black dark beer, they hoped to raise £300,000. With the crowdfunding deadline this Thursday night, Anspach and Hobday’s whip-round to develop and market the new beer has reached nearly £580,000 from 744 backers, all thirsty for success and profits.
Anspach and Hobday told Inside Croydon today, “Since the launch of London Black in April 2021, we’ve already landed 32 house lines in pubs and sold over 670 kegs. That’s over 35,000 pints of independent, locally produced dark beer.
“Due to the early success of London Black, we could see that now was the time to raise capital and invest in our brewing to keep up with demand.”
The brewers reckon that they can increase production to six times current volumes thanks to the funding raised. They describe London Black as “the local independent alternative to mass-produced macro-dark beer”.
Since their 2018 fund-raising, Anspach and Hobday say, “These investments have enabled us to grow 31 per cent year-on-year (in 2020-2021) despite the pandemic, with the company even reaching the milestone of £1,000,000 in turnover in the 12 months to October.”
Those investing in London Black, as well as receiving a share in the business, will also receive a variety of rewards depending on their contribution. Highlights include a 10 per cent lifetime discount, brewery tours, and an exclusive meal at London’s English Restaurant featuring London Black.
“I can only imagine the faces at Guinness’ marketing department!
“I hope others will join our raise before it finishes on Thursday. Together we’re going bring London Beer back to Londoners and the wider country.”
Head of production and co-founder Paul Anspach said: “This expansion will change the performance of our business and help us to continue to make the best beer we can. The whole team is thrilled to have had our hard work so thoroughly backed.”
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