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What's BrewDog really worth?

11 April 2017|by Beauhurst

Screen Shot 2017-04-11 at 17.32.29 copy-1.pngBrewDog, founded in 2006, is a Scottish company producing its own beers – and, more recently, operating 44 of its own bars. It has just secured a huge £100m in equity investment from TSG Consumer Partners, a US private equity firm which invested for the first time. Previous investors include Crowdcube and Brewdog's own, unorthodox equity crowdfunding mechanism, Equity For Punks.  

It has been widely reported that BrewDog is now worth £1bn. Beauhurst's most recent valuation for the company, however, calculated after its £15.9m fundraising in April 2016, puts its pre-money valuation at just under £300m. The £1bn figure suggests that investors are now willing to pay three times that price. TSG Consumer Partners' involvement comes as BrewDog continues to expand to the US.

BrewDog attracted criticism in 2015 for boasting a £306m valuation after its October raise on Crowdcube; detractors called it an over-valuation. But its co-founder James Watt responded that, as the fastest-growing drinks company in the UK, he expected to see BrewDog hit £100m in revenues by 2017.

Is the company on course?

 

Screen Shot 2017-04-11 at 17.23.48 copy.pngLooking at BrewDog's turnover since 2012, we can see an impressive growth trend. £100m this year? Quite possibly. At time of writing, Brewdog's valuation – although announced by the company and media as north of £1bn – cannot yet be verified, but the company is certainly scaling rapidly, and looks increasingly equipped to make a very high-profile exit. 

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