Scottish independent craft brewer Innis & Gunn has today reported 2016 as a year of substantial growth, having increased its annual group turnover by 22% to more than £14.3 million in 2016, up from 11.8 million in 2015. The Edinburgh-based brewer also increased its annual gross profit by 25% from £6.8 million in 2015 to […]
Innis & Gunn appoints Finance Director
Scottish independent brewer Innis & Gunn has appointed Esther Binnie as its new Finance Director and Board member.
Binnie will contribute to the strategic direction across all areas of the business in her new role, providing leadership to the Board on the company’s financial management and ensuring the company meets its goal of doubling turnover within the next three years.
- Binnie has extensive experience in the craft beer industry, having joined Innis & Gunn seven years previously when the company had only five employees, Binnie has been closely involved in the substantial growth of the business which employs over 50 employees today.
- Prior to her promotion to the Board, she held a number of senior roles in the company’s finance team, and oversaw the financial modelling for Innis & Gunn’s successful equity crowdfunding campaign, AdventureCapital™, which raised £2.5 million and brought in over 2000 new shareholders last November.
- Binnie also led the seamless integration of the Inveralmond Brewery into Innis & Gunn following the purchase of the Perth-based brewery in April 2016, and she has built a new finance team to support the expanding business.
Esther Binnie said:
“2016 was a transformational year for Innis & Gunn and this is just the beginning of an incredibly exciting period for us following our recent successful crowdfunding campaign. I am delighted to be joining such an experienced Board as we embark on a bold new chapter for the business, and my priority is to ensure that we accelerate delivery of our growth priorities, effectively investing the capital raised from investors to build our bars, add new brewing capabilities to our Brewery, and bring exciting new beers to the market.”
Innis & Gunn chairman, Tony Hunt, commented:
“Esther has made a significant contribution to the growth of Innis & Gunn’s over the last seven years. Most notably, recently, this has seen her play an integral role in our crowdfunding campaign and in the acquisition of our Brewery. Her passion and energy for our business is inspiring. We have many exciting initiatives in the pipeline for 2017 and beyond and Esther is going to make a great contribution to our Board.”
Innis & Gunn intends to double its turnover to £25 million over the next three years and the capital raised from the AdventureCapital™ investors will be used to accelerate Innis & Gunn’s immediate growth priorities that include:
- Opening an additional four Beer Kitchens in the next 12 months. The additional funds raised via AdventureCapital™ will enable Innis & Gunn to accelerate its growth plans and open a Beer Kitchen in England in 2017, a full year ahead of schedule. The Beer Kitchen brand is Innis & Gunn’s award winning bar and restaurant concept serving a wide range of craft beer alongside a specially curated menu, creatively developed for food and beer pairings. Innis & Gunn currently operates three Beer Kitchens Edinburgh, Dundee and St Andrews.
- Expanding beer production at The Innis & Gunn Brewery, Perth. Production volume is forecast to triple in the next two years to 30,000hl.
- Installing additional beer tanks and production capabilities, alongside the recently installed barrel ageing hall and new filtration technology that will expand the development of new flavours and innovative brewing processes.
Hi-res imagery and the full press release are available for download below.