HonestBrew launches fund for independent breweries
Online craft beer retailer HonestBrew has launched an investment programme to continue its support of independent craft brewers.
The HonestBrew Brewery Investment Fund will supply £50,000 of funds to be divided between numerous breweries to help fund their growth. This will provide the capital required to purchase brewing and packaging equipment to help independent breweries grow. The breweries will pay HonestBrew back in beer, which will be available to HonestBrew customers via the online bottle shop and craft beer subscription service.
Andrew Reeve, founder, said: “We have been vocal about supporting independent breweries in the past; now it is time for us to put our money where our mouth is. The HonestBrew Investment Fund will not only contribute to the growth of independent breweries, but it will also ensure our customers are getting more of the beers they love.”
The first independent brewery selected is the Cornwall-based Verdant Brewing Co. HonestBrew will provide £20,000 of funds, which will be used by Verdant to buy new fermentation tanks to increase its capacity.
Adam Robertson of Verdant Brewing Co said: “The HonestBrew investment fund is quite simply a no-brainer. We get to increase our capacity and upscale our business, and they get to have the beer they want available to their customers. Plus without this fund we wouldn’t be looking to upscale at this current rate, we really can’t thank the HonestBrew team enough.”
To be considered for the fund, breweries must be existing HonestBrew suppliers, independently owned and use the funds to invest in new equipment or capital expenditure.
HonestBrew sources beers from independent craft breweries around the world and it delivers them directly to homes, workplaces and trade across the UK. In addition to its online bottle shop, which features more than 500 beers, the online retailer provides a craft beer subscription service that matches beers to people’s taste. It also has a trade offering for businesses, coffee shops and restaurants looking to stock a craft beer range.