ParrotDog to crowdfund new brewery

ParrotDog to crowdfund new brewery

Wellington-based brewing company ParrotDog will launch an equity crowdfunding campaign on 10 August to fund their new Lyall Bay brewery.

Started in 2011 by Matt Stevens, Matt Kristofski and Matt Warner, ParrotDog is one of the leading craft breweries in Wellington. Moving into a new brewery will enable them to triple production immediately, with space to create a brew bar for local residents.

“We’re excited about giving our supporters an opportunity to be involved in what we have planned for ParrotDog,” says ParrotDog co-founder Matt Stevens.

ParrotDog is seeking to raise between $1,200,000 and $2,000,000, which represents 10.81%–16.81% of the company. Shares are priced at $1 each with a minimum investment of $500. Investors will receive additional rewards with each share parcel sold, including benefits such as a personalised glass handle at the bar, beer and food discounts. Those that invest over $35,000 will receive voting shares.

“We believe offering our investors a direct return on their brewery investment will motivate them in different ways, and help create a community of support around the company” says Stevens.

“Up until this point, we’ve done everything with debt. We are now turning to our supporters and offering them the opportunity to purchase equity in the company to help take us to that next level of production”

Last year ParrotDog was awarded Champion International Small Brewery along with two trophies, two gold medals, and multiple silver medals at the Australian International Beer Awards.

“We’ve recently put a lot of focus towards the Australian market, with distribution now in Victoria and New South Wales, as well as securing a partnership with Coles Group Australia. Those wins were a great achievement for us but there's still so much room to grow,” says Stevens.

PledgeMe CEO Anna Guenther is excited that their next equity campaign is for a brewery. “We’ve seen such well supported campaigns come out of the beer industry. The fans of these companies are often investing because they love the product, and want to help share what they love with the world.”

One of PledgeMe’s first successful equity campaigns was for Yeastie Boys, who raised half a million dollars in half an hour in 2014.

ParrotDog’s campaign is launching at 3pm on Wednesday 10 August. You can read their full Investment Prospectus at pldg.me/parrotdogim and subscribe to their newsletter to be kept updated at parrotdog.co.nz/shareholders.

ENDS

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