It’s been just over a week since Brewdog’s 2015 AGM. The hop-haze has finally lifted. My ears have stopped ringing. And I can be in a room with alcohol again.
The ubiquitous craft beer company‘s AGM isn’t your average AGM, as I explained to my photographer, Will, when he asked if this was a tie and chinos or a jeans kind of event.
Back in 2010, the company started trading B-shares in an effort to raise capital. Its investors were, by and large, craft beer fans, drawn in as much by discounts and bonuses as brand loyalty. The scheme – dubbed Equity for Punks – was a roaring success and, in five years, has raised over £6M.
But as a business, what do you do when the majority of your shareholders are beer-lovin’, mohawk-sporting, tie-eschewing punks? Turn AGM on its head and hold a festival instead.
We arrived in Scotland – courtesy of Brewdog, who invited us and covered the trip – early Saturday morning, the slate-grey streets of Aberdeen glowing in the sunshine as we landed, slingshot (with Scotland’s angriest taxi driver) around the outskirts of town and on to the colossal warehouse that would house the event.
Inside punks, PR and press – drinks in hand – quickly got down to business; the annual report that opened the day’s tastings. And oh, how beleaguered Tesco must wish its shareholders were punks. Brewdog’s founders, James Watt and Martin Dickie, crossed the packed arena floor to raucous cheering, through a forest of raised glasses full – or, in most cases, part-full – of the beers that they would reveal had underpinned a year of unprecedented growth.
It’s testament to Brewdog’s army of punks – of which there were 14,500 before the AGM – that the 6,000 or so of them in attendance (the maximum the event could host) not only showed up early enough for the address, but listened with rapt attention. I didn’t begrudge James and Martin the six-pack they had on stage with them – tie-wearing corporates their shareholders are not, but that doesn’t mean they’ll take bad news well.
But of course, this is Brewdog; arguably one of the craft beer Renaissance’s most overwhelming success stories. There was no bad news. The company’s turnover for 2014 was up a staggering 64 per cent, to £29.6M. Their gross profit – up 66 percent – was £11.5M, and with overheads of £7.8M, ended up with a net profit pre-tax of £3.7M. Brewdog has grown by 71 per cent in the last three years. Behind it all? “We’re committed to making as many people as possible passionate about craft beer,” James explained.
Brewdog comes under fire, particularly in the London bubble, for its aggressive marketing, its appropriation of punk, and doing too well, too quickly. A few years ago it was criticised for the inconsistency of its ubiquitous IPA, Punk. But is this a case of the classic, British distrust of success?
Speaking personally, I’m a fan of Brewdog’s brash, hoppy beers, which speak to my palate. I like that I can get them everywhere, from Sainsbury’s local to Wetherspoons, in Oslo via Florence.
I fell for them even harder at the AGM when I ran my stock feminist sort-of-trick question, “do you brew beers specifically aimed at women?”, past Alex Myers, Director at Manifest, who handle Brewdog’s PR, between drinks.
“All our beers are for everyone,” he said, immediately, and with conviction. 10/10 answer. Not a whiff of, “why, of course, we have a 3 per cent cherry-flavoured beer, and one that tastes like chocolate…”
Finally, you can’t deny Brewdogs’ fans’ passion – made manifest in the whopping number of shares sold – be they the punks, or the two Scots on stage clutching their cans of craft.
Brewdog has done a comprehensive round-up of the AGM announcements here. Our top lines…
Brewdog, which incredibly still still brews out of one, soon-to-be-expanded site at in Ellon in Aberdeenshire, is expanding production and heading stateside, with plans to open a 42-acre sister brewery in Columbus, Ohio. Dog Bless America, indeed.
Born to Die, an imperial IPA with a life-span of just 35 days, was our beer of the weekend, so great news that it’s going to be made marginally more widely available. The plan is to brew two batches that will appear in 660ml bottles and be available on keg. The beer we tried (that will die on 4 July!) was extravagantly hoppy, delicious and citrus-fresh. Will swears he was sweating hops the next day. BD also announced its first Equity Punk-inspired brew, a 6.5% chocolate and coconut stout, and a collaboration with Beavertown called “Coffee and cigarettes”, which is exactly what those members of Team Beavertown aboard our early morning return flight to London on Sunday looked like they needed.
Brewdog also announced a slew of new Brewdog bars, including (deep breath) Leeds, Glasgow, Berlin, Brighton, Oslo, Rome, Leicester, Brussels, and, most importantly, because it’s at the end of my road, in Angel, Islington as well as London’s Soho, which will apparently also have a beer-themed sex shop (Bd’s PR didn’t explicitly deny this, so… you heard it here first, until you didn’t…)
FULL OF SPIRIT and IN THE DOG HOUSE
Finally, BD also announced that they would be opening a craft distillery, promising “we are going to smash the world of spirits forever”, and shared some tantalising details about its planned hotel, The Kennel in Ellon, to be the first completely beer-focused hotel in the UK, with beer on tap in every room.
“2014 was ace,” James told us, a broad understatement.
With the AGM down, it was on to some serious drinking, with not a watercooler or peppermint tea in sight. In our experience, the layout this year worked well and queues for the half-dozen or so bars were short (except for the food pop-ups outside – we legitimately queued for 50 minutes for a burrito). The beer wasn’t breathtakingly cheap – £10 bought you six tokens, and most beers (served in pints, 1/2s, 2/3s and 1/3) cost two or three tokens – so at £2.50-£3 a third a hair’s cheaper than London prices for some, but a generous £2 a pint for others (like Punk IPA).
Team ICIP drank our way round most of the bars (why do you think it took so long to write this post?); our top tips:
Born to Die 04.07.2015: Just glorious. Fresh, US-hops, with zingy grapefruit notes. Full-bodied hop punch. Did I mention it’s hoppy? Basically my dream beer.
Dog D: At 16 per cent, this hefty imperial stout was not a beer to mess with. Or drink at the end of the night, as I did, which probably explains why I had to have a nice lie down on the floor of the departure lounge the next morning. Aged in oak barrels, it exudes chilli, black treacle, vanilla and whiskey notes. For 28 hours after you drink it. Don’t say I didn’t warn you.
Jack Hammer: Another hop bomber, this one a more gentle 7.2%. Looking back, it’s probably a bad sign that my tasting notes rendered this “gentle” by mid afternoon. No matter! More US-hops here, palette-meltingly bitter, also more widely available than the beers above. Might start a petition for Sainsbury’s to start stocking this one.
Ballast Point, Sculpin Habanero: There were beers other than Brewdog, and this stole the show. I can only really claim to have had a half pint of this, because so bowled over was I by the seedy habanero kick – unlike any other chilli beer I have ever tasted – that I offered a mouthful of it to everyone I encountered just to see the looks on their faces. Extraordinary.
Turns out that after a few pints of double-digit strength beer, I both recall the words to and enjoy many more Idewild, Twin Atlantic and Pulled Apart by Horses songs than I realised. Leaping around like a lunatic to Scottish emo was the perfect end to a fab day. But, this is a beer blog, not a music blog, so this entry is mostly an opportunity to showcase the one good photo I took with Will’s camera.
We only attended one tasting session – with Brewdog’s own brewers, and of lovely Dog D – and it was great. You do have to fork over precious beer tokens to attend, but it’s well worth it; in fact, apart from booking the subsequent week off, making more of those sessions is pretty much all we’d do differently next year.
Because, Dog willing, we’ll be back, and we’ll see you down the front.