Brewdog's failed US fundraising campaign peters out with a whimper rather than a snarl.
Following the recent announcement that Brewdog has sold 22% of the company to San Francisco based TSG Consumer Partners for £230m, they have decided to close their ailing US Equity for Punks campaign. Targeting an ambitious $50m it raised just $7m. Clearly now, they do not need the extra $43m. According to their own PR, the campaign was a stupendous success. So that's why they had to sell out to Corporateville?
Some might say that all the vocals coming from the Ellon HQ, when Camden sold out to AB InBev for £85m, was just a sham. Now the punks have done the same. Promises to keep the razors sharp are no longer believable.
Investors in the company are looking at a stupendous return of over 2000% if the rumoured IPO takes place and is successful. The company has been a fantastic success, no doubt, but I do wish they would stop talking total crap.