Crate secures it's future with funding round
Seven year old Crate Brewery is raising half a million pounds to fund expansion plans on it's current site in Hackney Wick, East London. They have just secured a 20 year lease on their premises and their plans include;
- A new restaurant
- A new event space
- Double the size of current tap room
- Build 1000 sq ft of affordable workspace
- national listing in nearly 1500 Tesco stores
- £3.95m turnover in FY 2018
- EBITDA of £88k.
The £12m valuation may be a tad rich for some, however for ten quid, you can get a pint and pizza in return!
More details here.
In the summer of 2014, I had the pleasure of meeting the three founders when working for Crate. Oh and I am 'in' on this round.