Five Points seeks £750,000 in crowdfunding campaign to triple production to six million pints a year
PUBLISHED: 11:59 08 March 2018 | UPDATED: 12:53 08 March 2018
Hackney’s biggest brewery Five Points launches a £750,000 crowdfunding campaign tomorrow (Fri) to expand the business.
The plan is to bring back production from Belgium and to open the independent brewery’s first taproom at the Pembury Tavern, bought by the company last month. Pembury Circus, the five-pointed junction on which the tavern sits, originally gave the brewery its name.
Money raised through Crowdcube platform will be invested in new brewing equipment and fermentation tanks to triple capacity.
Co-founder and managing director Ed Mason’s ambition is to crank up sales from two million to six million pints a year. The decision to seek investment and issue shares comes as the brewery in Institute Place says it is struggling to keep up with high demand – despite the decision in October to build four huge storage tanks there, which neighbours unsuccessfully lobbied for the council to block.
Five Points, which opened in 2013, reached capacity in late 2016 and has had to enlist an independent family-owned brewery in Belgium to brew some of its products.
Ed said: “Investing in the company now will give us the resources to really take Five Points to the next level.
“We believe we have the potential not just to cement our position as one of London’s favourite brands, but to become a truly national brand.”
He added: “We founded The Five Points in the heart of east London with a commitment to the community, and the prospect of inviting the community to join us on our journey is really exciting.
“What we love about crowdfunding is the ability to welcome on board hundreds, maybe thousands of passionate beer lovers who will be literally invested in the success of our company.”
Investors will receive exclusive rewards like free birthday pints, up to 25pc discount in the taproom and online, and exclusive invitations to brewery recipe development and hop-picking experiences.
The campaign will run for 30 days. See fivepointsbrewing.co.uk/crowdfunding/