Auckland based craft brewer, Behemoth Brewing, is looking to equity crowdfund a further $2m NZD ($1.3m USD) to continue its growth in New Zealand and Asia.
During it’s second round of crowdfunding it will be able to take investments from overseas residents with considerable interest already being shown from Hong Kong and Singapore where the beers are regularly imported.
In early 2019, Behemoth raised $2m from new investors to establish its first ‘home’ for the brand.
The completion of its new facilities marked a significant milestone in the brewery’s journey, for the first time it has its own tap room and production brewery, having been a gypsy brewer since inception 7 years ago.
This time the investment will focus on funding more tanks and equipment in the brewery to ensure that they can keep up with demand for their beers in New Zealand, Asia and Australia and also establish more tap rooms in their home market.
Roger Kerrison, Commercial Director for Behemoth said, “Despite of COVID our growth is continuing as we had hoped in 2020, delays in getting the tap room and brewery open aside. In the first 6 months of the current financial year our revenues are up 100% and we generated nearly $500k NZD EBITDA ($330k USD). We now need to move to the next phase of our strategic plan which is to ensure we have economies of scale, security of brew capacity and more hospitality venues when tourism starts to return to New Zealand. Our plan as a maturing company is to continue to grow revenues and to start delivering strong EBITDA results. All going to plan this will enable us to pay dividends from the next financial year onwards.”
In mid 2020 Behemoth also announced that it would brew and distribute Vietnam based Heart of Darkness beers under license out of its new facility and recently it has started exporting to Japan and has shipped beer to China again for the first time since 2018.
Following an upcoming pre-emptive offer to existing shareholders, new investors will have the opportunity to invest into Behemoth, including investors in Asia.
“We are super excited to be able to open this capital raise to our fans in Asia this time round, they have been a big part of our growth over the last few years and we would welcome their expressions of interest in investing in our company,” said Kerrison.
To find out more, visit their crowdfunding page HERE