Tuesday, July 16, 2024

Alcohol-free craft brewery, Drop Bear Beer Co., seeks £700,000 to propel growth

Welsh alcohol-free craft brewery, Drop Bear Beer Co., is embarking on a significant fundraising campaign to secure £700,000 in a Convertible Loan Note round. The lead investor for this round is Henry Engelhardt’s Wrightwood Investments, marking a pivotal moment for the company with a total of £2.1 million raised to date.

Drop Bear Beer Co. has been a trailblazer in the alcohol-free beer market, outpacing competitors with rapid growth four times faster than the industry average. The company’s success is attributed to its unique positioning, blending Welsh and Australian influences, and a commitment to producing high-quality, carbon-neutral, vegan, low-calorie, and gluten-free alternatives.

The global alcohol-free beer market has experienced a CAGR of 7% over the last four years, and Drop Bear’s revenue growth reaches far beyond that.

Founders Joelle and Sarah Drummond, a married couple, have not only captured the essence of their diverse backgrounds in their beers but have also garnered over 30 international awards. Their vision extends beyond creating exceptional brews to owning their own brewery, a crucial step for Drop Bear Beer’s sustained growth.

Henry Engelhardt, Admiral Insurance Founder and former CEO, first discovered Drop Bear in the Western Mail. Impressed by the founders’ talent and the brand’s commitment to sustainability, he has invested in a previous round and is leading the current fundraise.

Engelhardt expressed confidence in Drop Bear’s trajectory: “The business is going from strength to strength, winning contracts, gaining sales, and soon they will start manufacturing the beer themselves—a big step for the business and a further test of their managerial competence.”

The official launch of Drop Bear Beer Co.’s newly acquired brewery in Swansea is set for January 6, 2024.

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