BrewDog to give away 20% of profits each year


Brewdog, Punk IPA bottlesImage copyright
Brewdog

Aberdeenshire-based craft brewer BrewDog is to give away 20% of its profits each year, the company has announced.

BrewDog said 10% would go to charity and the other 10% would go to its team.

The company said it could mean giving away more than £45m over the next five years through its Unicorn Fund.

The sometimes-controversial firm has grown rapidly from its founding, with a £20,000 bank loan, in Fraserburgh in 2007.

A major deal with Tesco was the breakthrough for founders James Watt and Martin Dickie, who were awarded MBEs last year.

In April, BrewDog became worth more than £1bn after selling a stake to a US private equity firm.

‘Create a blueprint’

Mr Watt said of the annual profits giveaway: “We want to be the best company to work for, ever.

“We are going to be giving away 20% of our profits, for ever – 10% distributed evenly amongst our teams, and the other 10% we are going to donate to charity annually.

“We want to create a blueprint for a completely new type of 21st Century business.”

BrewDog – now based in Ellon – has attracted controversy over the years.

In 2009, a beer called Speedball was criticised amid claims it promoted the drugs mix that killed actors John Belushi and River Phoenix.

Later, a low-alcohol beer called Nanny State was launched by the company after being branded irresponsible for creating the UK’s “strongest beer”.

BrewDog’s Tokyo had an alcohol content of 18.2%.

And in 2010, BrewDog said it had reclaimed the title of the world’s strongest beer from German rivals – with Sink the Bismarck at 41%.

It had unveiled a 32% beer called Tactical Nuclear Penguin. However, Schorschbrau then released the 40% strength Schorschbock, before BrewDog hit back.

BrewDog opened its first pub in Aberdeen in 2010, and is now expanding around the world.



Source link

NO COMMENTS