Home news BrewDog to give away 20% of profits each year

BrewDog to give away 20% of profits each year

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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: BBC