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West Berkshire Brewery

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Award-winning beers and lagers, from traditional English ales to innovative and modern styles.

185%
 - 
Funded 7 Jun 2020
£750,000 target
£1,390,948 from 1,164 investors
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Business overview

Location Reading, United Kingdom
Social media
Website www.wbbrew.com
Sectors Food & Beverage Mixed Digital/Non-Digital Mixed B2B/B2C
Company number 03667842
Incorporation date 16 Nov 1998
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Investment summary

Type Equity
Valuation (pre-money) £7.3M
Equity offered 16.06%
Tax relief N/A
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Business highlights

  • Diversified revenue streams delivering strong growth
  • Ability to scale up to 26 million pints per annum
  • Recently submitted multiple tenders for significant volumes
  • A growing pub estate showcasing our beers
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Key features

  • Secondary Market
  • Seedrs nominee min. £10.00 +
  • Direct investment min. £10,000.00 +
  • Idea
  • Key Information
  • Team
  • Updates
  • Investors 1,164
  • Discussion
  • Documents

Idea

Introduction

Our mission is to deliver a range of the highest quality beers that blend a respect for heritage, integrity and provenance with modern methods and styles. We embrace all beer styles and believe that great beer should be the norm and not the exception.

Founded in 1995, West Berkshire Brewery has transformed into one of the best-equipped breweries in the UK. In rapid growth, we are dedicated in our mission to deliver best-in-class beers of all varieties from heritage styles to modern craft beers accessible to everyone.

Following investment in 2017 we moved to our new brewery site and to a brewery designed to make small batch beers at big scale. The business was founded to champion real ale in the resurgence of micro-brewing in 1995; this has evolved to acknowledge that there is no such thing as bad beer, only badly made beer, and our mission is to rectify this by focusing on producing lagers, IPA's and Ales of the very best balance, flavour, drinkability and quality.

Substantial accomplishments to date

Installation and commissioning of new brewery, complete with botlting and canning lines in a purpose built facility. Offices and "cold chain" storage are also onsite.

Since the installation of the new brewery sales revenue grew 86% in year 1 to £6.2m *;

Sales to national supermarkets including Waitrose, Tesco and the Co-Op;

Taproom and Kitchen launched in 2017 and generates sales of £1.4m per annum;

The Depot, Islington, and the Grapes, Oxford, acquired as leasehold pubs.

Joint-Venture Pub company Maverick Pubs was developed and lauched in 2018 and immediately acquired two London freehold pubs;

Contract packaging and brewing business successfully launched, customers include Meantime, Adnams, Greene King, Shepherd Neame, Yeastie Boys, Wadworth's, Black Sheep and demand for our services is growing.

Route to Market partnership developed with one of the biggest national wholesalers as well as distribution via national pub companies and directly to the Independent Free Trade;

Professional business infrastructure has been put in place including a fully departmental strucutre, a professional sales team and an SAP based Enterprise Resource Planning management system.

*source: unaudited management accounts

Monetisation strategy

WBB is vertically integrated with 3 different complementary revenue lines:
1) Beer Sales: With a product portfolio aligned to consumer and customer needs, WBB looks to offer a beer that satisfies every drinker and drinking occasion. Our brands are sold in the On-Trade via pub companies, regional brewers, a route to market partnership with one of the UK's biggest wholesalers and direct delivery sales. In the Off-Trade we have listings with supermarkets such as Waitrose and Tesco and we produce "own brand" beers.

2)Retail & Pub Sales: Including the pubs in our partner, Maverick Pubs, we have 4 pubs operating: 3 in London, 1 in Oxford. Two are freehold and two leasehold. At our brewery site we have our 200-capacity Taproom & Kitchen, a destination venue which generates revenue of £1.4m p.a.

3) Contract Sales:
Our reputation of being a great quality brewer has attracted some of the UK's best-known brands to bottle/brew or can. To date, our customers include Adnams, Meantime, Black Sheep, Wadworth, Shepherd Neame, Yeastie Boys, amongst many others.

Use of proceeds

The proceeds will be used to help fund our strong and continuing growth and to provide the cash runway to continue scaling.
We look to support the continued development of all revenue channels, with demand being demonstrated across all areas of the business.

This will take the following form:

- Support the installation and commissioning of our Fridge Pack Machine, this machine packs bottles and cans into consumer ready retail packs.
- The addition of this machine will augment our line and in turn boost our capability to drive sales in the Off Trade, in our retail outlets and will add a further service to our contract customers.
- Support our marketing initiatives with our pub partners across the South of England
- Provide capital to enable any pub acquisition opportunities as they arise over the coming year.

Investor Perks

Up to £500

Shares in the business and 10% off for life from our shop, online or any of our pubs

£500

all the above plus 50% off voucher for online shop

£1,000

all of the above plus 6 month beer subscription & a brewery tour for 25 people

£5,000

all of the above plus the right to book the Taproom for 50 people or more

£10,000+

all of the above plus a brew day on our 100L pilot kit - work with one of our brewers creating your beer and receive it when it's ready. Lunch in the Taproom included

*T’s & C’s apply. Please note that any discounts, rewards and/or offers listed by a company in its campaign are subject to the terms and conditions applied by that company. It is the company’s responsibility to honour such discounts, rewards and/or offers and Seedrs does not take any responsibility for them.

Key Information

Convertible Loans

The company has the following outstanding convertible loans, which may convert to equity after this round and dilute existing shareholders:

1- £1,995,000 loan from 42 lenders, with the following key terms:
Interest rate: 6%
Conversion trigger(s): At the option of the note holder
Conversion price: £4.00

Share class: Ordinary
Repayment date: June 2023

2- £1,600,000 loan from 163 lenders, with the following key terms:
Interest rate: 6%
Conversion trigger(s): At the option of the note holder
Conversion price: £7.25

Share class: Ordinary
Repayment date: January 2024

3- £702,100 loan from 13 lenders, with the following key terms:
Interest rate: 6%
Conversion trigger(s): At the option of the note holder
Conversion price: £3.50

Share class: Ordinary
Repayment date: September 2024

Fully Diluted Equity

Please note the company has allocated 1,633,826 shares since their last round on Seedrs under the following subscription:

1,107,178 shares at £3.15 share price
377,148 shares at £4.05 share price
149,500 shares at £5 share price

Pre-emption has been waived on the subscription of these shares and they have been included in the fully diluted pre-money share capital in this round. The share price for this round is £1.25.

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Investing carries risks, including loss of capital and illiquidity. Please read our Risk Warning before investing.

Investing involves risks, including loss of capital, illiquidity, lack of dividends and dilution, and should be done only as part of a diversified portfolio. Please read the Risk Warnings before investing. Investments should only be made by investors who understand these risks. Tax treatment depends on individual circumstances and is subject to change in future.

This webpage has been approved as a financial promotion by Seedrs Limited ("Seedrs"), which is authorised and regulated by the Financial Conduct Authority. It is not intended to be a promotion of any individual investment opportunity and is not an offer to the public. The summary information provided about investment opportunities on this webpage is intended solely to demonstrate the types of investments available on the Seedrs platform, and any investment decision should be made on the basis of the full campaign. Full campaigns are available to investors who have become authorised to invest on the Seedrs platform. All investment activities take place within the United Kingdom, and any person resident outside the United Kingdom should ensure that they are not subject to any local regulations before investing.

Seedrs does not make investment recommendations to you. No communications from Seedrs, through this website or any other medium, should be construed as an investment recommendation. Further, nothing on this website shall be considered an offer to sell, or a solicitation of an offer to buy, any security to any person in any jurisdiction to whom or in which such offer, solicitation or sale is unlawful. Seedrs does not provide legal, financial or tax advice of any kind. If you have any questions with respect to legal, financial or tax matters relevant to your interactions with Seedrs, you should consult a professional adviser.

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Seedrs Limited is authorised and regulated by the Financial Conduct Authority (No. 550317).

© Seedrs Limited 2021. All rights reserved. Seedrs is a registered European Community trademark (No. 008771537) and registered United States service mark (No. 85423072) of Seedrs Limited, a limited company registered in England and Wales (No. 06848016), with registered office at Churchill House, 142-146 Old Street, London EC1V 9BW, United Kingdom, VAT No. GB 208 3065 32. Seedrs.com is a website owned and operated by Seedrs Limited.

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This business is eligible for SEIS relief - providing qualifying investors with income tax relief of 50% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.
This business is eligible for EIS relief - providing qualifying investors with income tax relief of 30% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.
Valuation rounded from £7,271,000

Pitch type

There are 4 types of investment pitch available on Seedrs.

  • Equity
  • Convertible
  • Fund
  • Secondary

Investing in a regular equity campaign is the simplest and most common way to invest in a startup. You decide which business you want to invest in, and if the campaign hits its funding target then you will become one of their shareholders. As the company becomes more valuable, so do your shares; allowing you the opportunity to share in the future success of the business.

Learn more about pitch type on Seedrs.

Seedrs nominee

This shareholding type is available with this raise.

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Secondary market

This shows if the business has opted-in or opted-out of allowing its shares to be bought and sold on the secondary market.

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Direct investment

This shareholding type is available and the minimum investment required to select it.

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Payment options

We are not able to accept card payments for investments into this sector. You can pay for your investment by creating a bank transfer or by using funds in your investment account. Your investment will only be completed once the funds have reached our account.