Scottish craft beer group BrewDog has started brewing Punk IPA and other beers in China, opening more bars in the country after forming a joint venture with Budweiser China, the largest international brewer on the market. is scheduled to open.
The privately-held British craft beer maker postponed its planned initial public offering and was looking to make a fresh start. Toxic Culture Claims The staff told us they wanted to tap into the growing new craft beer market.
Brewdog CEO James Watt said it is shifting its expansion away from its home market in the UK as inflation has affected breweries and hospitality establishments in the country.
“We don’t want to be owned by ‘Big Beer,’ but we want to be a global beer business,” said Watt. “Most of the focus for making our capital work is international. The environment in the UK is very difficult.”
Brewdog’s Punk IPA, Hazy Jane and Elvis Juice will be produced at Bud China’s newly opened Putian Craft Brewery in Fujian province, with nine more Brewdog branded bars already in Shanghai. We aim to add to the open one.
This follows a similar partnership with Japan’s Asahi in 2021, which BrewDog says has doubled its sales in Japan since then. Bud China is a division of Bud Apac, a listed Asian beer company majority owned by AB InBev, the world’s largest beer company.
BrewDog previously had a small partnership in China with distributor Top Shelf, opening a bar in Shanghai in 2020. The new deal was meant to capitalize on China’s renewed craving for craft beer, Watt said.
The group said craft beer production in China reached 6.5 million hectoliters by 2020, but according to hops supplier BarthHaas, that year’s total beer production in China Much smaller than more than 341 million hectoliters. Local craft his brewers include Jing-A and Pandabrew.
BrewDog posted a net profit of £219m in 2021 and a pre-tax loss of £9.4m in 2021.
The brewer, whose stake is owned by private equity firm TSG, was due to go public in London in 2020, but canceled its planned IPO after Covid-19 hit hospitality establishments and disrupted markets. Postponed.
Watt said there are no immediate plans to go public at this time, but a timeline is set for the end of 2023.
Brewdog also faced criticism in 2021 when a group of former staff members accused Brewer of having a “culture of fear”. A series of changes have been made, such as the installation of the new system, but he also states that some of the claims were exaggerated.
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