Behemoth Brewing Company (Behemoth) has ambitious plans to grow market share and quadruple production volumes over the next few years with the help of a $3m capital investment using Snowball Effect.
The brand, which has a pre-money equity valuation of NZD 35.86 million, is no stranger to growth. Since its inception nine years ago, it has consistently grown revenue, with a successful FY22 of $10.6 million and a compound average growth rate of 55 percent since FY17.
“We’re only just getting started and we’re definitely thinking big. With a talented and highly experienced team behind us, we’re going to be substantially growing volumes, distribution, and brand awareness so we can get our amazing beers into the hands of more beer lovers. There’s a huge amount of growth to be had in online and grocery channels so we’ll be focusing there as a great way to get scale, while maintaining a competitive price point and our brand’s value,” said Andrew Childs, Behemoth Founder, Executive Director and Co-CEO.
The independent craft brewery is no stranger to Snowball Effect, closing out a $1.8m round in a record-breaking 20 minutes from the NZ public back in 2020. Strong demand is looking set to continue, with over 2,200 expressions of interest already.
Last Year Behemoth produced 1.44 million litres, but of that, only 350,000 litres were brewed on-site due to current capacity capabilities. The next investment round will take on-site capacity levels to over two million litres in three to four years.
“Thank you to all our fans for helping us get to where we are now, and to where we are headed. Since 2013, we’ve grown from a small brand contract brewing to a fully operational, in-house brewery with two hospitality sites – making beers for the Kiwi public and six countries around the world. We’re passionate about maintaining all the things that people love about our unique brand, while spreading the Churly vibes to more people. That’s what this next capital raise is all about,” said Hannah Childs, Co-CEO.
“We know all too well that Kiwis truly love and support Behemoth and their plans for the future. It’s clear that there’s a growing demand, both in NZ and abroad, for premium craft beer. In less than a decade since its inception, Behemoth has solidified itself as one of the country’s top craft beer breweries. Our hope is that Behemoth’s supporters yet again rally behind them in this latest investment opportunity,” said Simeon Burnett, Snowball Effect’s Co-Founder and CEO.
The Snowball Effect campaign went live on Wednesday 28 September.