Behemoth Brewing (Wholesale)

By Behemoth Brewing

PledgeMe.Investment

Food,

NZ $224,500 pledged


8 people pledged


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NZ$0

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NZ$1,500,000

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Pledges will only be confirmed if the target is reached by: 15/07/2019 at 9:00 PM (NZST)

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About

Behemoth Brewing (Wholesale)

We are sorry you missed the current round of crowdfunding, which closed with 635 new shareholders in Behemoth Brewing and $2.06m of capital raised. Please feel free to register your interest in investing in future Behemoth crowdfunding campaigns, or the possibility of purchasing shares off existing shareholders.  

Behemoth combined raise

The investment offer will only be accepted if a total of $1.5m NZD, or over, has been pledged from the crowdfunding offer and/or wholesale offer by 15 July 2019. This campaign page is for wholesale investors (refer to IM for explainer, and in footer of this campaign page for definition of wholesale investor). If you're not a wholesale investor and arrived on this campaign page unintentionally. Please visit Behemoth's equity crowdfunding campaign for non-wholesale investors.

Behemoth Brewing Company (Behemoth) was created in 2013, the dream of Andrew Childs; a beer nerd, beer drinker and home brewer (and sometimes referred to as the Beer Giraffe, due to being really bloody tall).

In the last six years Behemoth has come a long way. It has gone from doing a 1,200 litre brew once every few months to brewing more than 530,000 litres of beer in the last year.  This means someone drinks a pint of Behemoth every 30 seconds, somewhere in the world. Now, that is a little crazy.

We are currently the 4th biggest independent craft brewery in grocery sales in New Zealand and we are now ready to put the foot on the gas by establishing our own brewery and restaurant in Auckland.  

We haven chosen to equity crowdfund because because we want to provide our supporters with the opportunity to Be Part of Behemoth’s Home; part of our story. A story of big beers and cheeky antidotes, a brewery, a new food and beer experience hub, and a thriving and exciting industry. 

The benefit in using a crowdfunding platform like PledgeMe also means that we can include additional rewards with each share package or parcel sold, adding additional benefits to those whom purchase shares in Behemoth.

We have come up with some great benefits that Behemoth shareholders (Chur-holders) will enjoy, in addition to the share in the company they gain through their investment. The investment level chosen will determine the contents of the package and membership level.

P.S. We think they are pretty freaking sweet!

 

 

What we've done so far

Behemoth achievements

 Annoyed the leader of the free world?  TICK

 And the leader of the non free world?  TICK

Given it to the Aussies?  TICK 

Learnt some sweet brewery yoga moves?  TICK

Behemoth has grown rapidly since it was started in 2013 when we brewed our first beer "Celia Wade Brown Ale". The beers and puns have come thick and fast since and we have brewed over 125 unique beers in 6 years. We are now one of the largest independent craft brewers in New Zealand.

 

In the previous financial year our revenues grew by 136% as we focused on strengthening our domestic and export sales. For the first time we put our beers into 6 packs, we really ramped up the brewing of our 440ml limited release beers and shipped our beers to 11 export markets. This delivered a net profit for the first time as the business starts to mature. We look forward to doing more of the same in 2020 and onwards.

 

What's next?

Our strategy over the next three years is to continue to grow Behemoth domestically and overseas. We have some exciting things in the works to ensure this growth!

Churly' Bar and Restaurant - Dominion Road, Auckland

Attached to the new production facility at the top of Dominion Road in Auckland (see below) Churly's will be a brewpub with a difference. It will offer all the usual things you would expect from Behemoth and a tap room; a welcoming local place for a casual Behemoth beer, a place to bring out of towners to do tastings and tours and a place to buy beers for takeaway to drink at home (or even better someone elses home). But.....it will be something different from your usual craft beer tap room with the addition of a food and beer matching restaurant. The restaurant will focus on a nose to tail menu that will be supplied by our onsite butchery. We feel that this sustainable and low waste dining experience with a true focus on food and beer matching will be an exciting addition to the Auckland food scene.

Behemoth Brewery - Dominion Road, Auckland

Attached to Churly's Bar and Restaurant (see above) the Behemoth Brewery will finally mean we have our own production facility after years of begging and borrowing generously offered space in other peoples breweries around New Zealand. Commerically, having our own brewery is a sensible move as it helps manage the risk of reliance on contract brewing, as well as providing a more economic cost base for our beers. It also offers us the ability to really push the boat out in terms of our seasonal and limited release beers; including the start of our barrel aging and co-fermentation projects. As well as the 3,000L brewery it will feature a 600L trial kit that our brewers can experiment on and it will allow us to brew small volume batches for the North Hemisphere customers who don't want to be drinking Imperial Stouts in their summer.

It's not all about bigger being better!

.......well, not all the time.

We are very excited about the release of our single serve core range in 330ml printed cans. Previously our single serve core range were packaged 500ml bottles, but we think that 330ml cans are the future for craft beer. They reduce oxidation and light strike on the beer, they have a lower carbon footprint than glass, they are lighter to transport (once again reducing resource use and carbon emissions) and are much harder for our freight companies to smash! Plus, the look great. Ranged across the Foodstuffs network and traditional liquor we expect to see significant growth in these four core range beers in the next year.

If the Mountain won't come to Churly

Our export sales have grown from virtually zero to over 10% of our revenue in the last two years. Churly's will give us the ability to continue this growth with more allocation of speciality beers to our export customers. Longer term though, we think that our export propostion needs to be provisioned from closer to the market, otherwise we will hit a ceiling in terms of what we can sell to the big wide world.

What does this mean? It means we will be looking at options to brew our beers in-market overseas. This benefit being that the customer gets to drink fresher beer, at a better price (as we aren't shipping the beer from the bottom of the world). We envision this will create more demand for our beers overseas. We will need to ensure we brew to the same great standards we have in New Zealand and to do this we need to ensure we find partners who have the same passion for quality that we do. We are confident we can do this in time and we will work slowly and methodically to ensure we have everything in place to make such a project a success.

Revenue and Profit Growth

During 2020 we will invest in the above projects and these will start to deliver revenue and profit growth from 2021 onwards.

Use of capital 

Share Offer

Issuing up to 2m shares at the total value of $2m to crowdfunding investors through a crowdfunding offer and up to 1.5m shares at a total value of $1.5m to wholesale investors through a wholesale offer (refer to IM for explainer). This makes the total offer up to 3.5m shares, which constitutes 13.09% of the company. The minimum subscribed investment threshold is $1.5m.

If you're not a wholesale investor and arrived on this campaign page unintentionally. Please visit Behemoth's equity crowdfunding campaign for non-wholesale investors.

 

   

Capitalisation Table

 

About our Team

 

Churly - The Behemoth Monster

Behemoth's friendly neighborhood monster, Churly, is a mainstay of our branding. He loves dressing up as different characters on our labels. From Presidents to Rappers and Little Old Ladies, nothing daunts Churly.

        

 

Andrew Childs - Managing Director and Head Brewer

AKA, the Beer Giraffe, he's the man with the vision. The founder. He's full of passion for great beer and has a mind overflowing with ideas. When asked who does Behemoth's marketing, his reponse is, "I am the marketing department."

 

     
 

Hannah Miller-Childs - Operations Manager

A butcher/chef by trade, she jokes that Andrew tricked her into joining Behemoth. An eye for detail was exactly what Behemoth needed and she is now referred to as "Behemoth's glue".

   

Julie Keoghan (CA) - Finance Manager

The money lady. Chartered Accountant and busy mum of three, she’s a natural when it comes to multi-tasking, which comes in handy when organizing funds while wrangling debtors. 

   

Roger Kerrison - Commerical and Export Manager

Overseas trade is the name of the game and his diplomatic abilities are second to none. With a strong background in selling craft beer around the world, his knowledge of the business of beer is a daily asset.

 

Andy Graham - Lower New Zealand Sales Manager

Recently married and the newest member of the Behemoth Team, he brings a first hand knowledge of the grocery side of the business having grown up in his parents Four Square.  This is perfect for him to build relationships with our accounts in Wellington and the Lower South Island.

 

   

Pearse Shield - Central North Island Sales Manager 

Behemoth’s resident beer geek. If you’re after some knowledge on the newest, rarest, biggest beers, he’s your man. And coming from a background in traditional liquor, he offers great support to our Central North Island customers.

   

Angelo Anapa - Warehouse and Delivery Manager

Forklift driver of the year! When space in the chiller gets a little tight, he always finds a slot for one extra pallet. Between that and keeping the freight companies inline, it’d be a hard days work without him.

   

Sarah Thompson - Auckland On-Premise Sales Rep

Brewer, baker, charcuterie-maker. What can’t this girl do? Her wealth of knowledge from a brewing & hospitality perspective makes her the perfect liaison between Behemoth and Auckland’s on-trade customers

 

Risks and Challenges

We have thought long and hard about the risks and challenges in delivering our forecasted revenue and profit growth, they are documented below.

Risk

How we’ll mitigate them

BEER QUALITY – the risk of a decline in beer quality from moving to a new premises with new equipment

We will appoint an experienced Head Brewer to work closely with Andrew in the brew pub premises. We plan on moving production slowly to our new brewery. If the beer is not up to scratch, it will not be released to market. Quality is of the utmost importance..

CASHFLOW – the risk of not having enough cashflow or working capital to meet obligations, due to either poor sales or late paying customers

We have good systems to manage and mitigate the risk from late paying customers and we also have a credit policy that limits our exposure to individual customers.

INCREASED COMPETITION – the risk of the market significantly heating up with increased competition

We are a dynamic and resourceful company. As more and more brewing companies enter the market, we plan to keep making beers people enjoy, introducing new brewing techniques, and packaging our beer in new ways. We will continue to do the things that have proved successful previously and continue to grow our market share.

KEY PERSONNEL – the risk of losing key personnel

We pride ourselves on treating staff well, compensating them appropriately, and making them feel part of the team. We plan to retain good staff, but we also appreciate there are times when people will leave Behemoth to further their careers or follow their dreams. We, therefore, have succession plans in place for if key personal move on.

PROFITABILITY – the risk of not operating profitably

We have worked hard to become profitable and sustainable. We have budgets in place and if for any reason they are not met, we will act swiftly to get ourselves back on track. We produce in depth management reports on a monthly basis that examine our performance, including profitability.

PROJECT DELAYS – the risk of the new brewery build being delayed by unforeseen circumstances

We have allowed for the brewery being delayed due to construction delays. We want to open Churly’s Bar/Restaurant by November 2019 to make the most of Christmas and Summer trade. We believe this to be achievable if everything goes to plan, but if it doesn’t occur, we are able to delay the opening until early 2020 without much impact to the bottom line. This is why we are conservatively budgeting in our forecasts. The brewery being delayed will not be too much of an issue as we have supply contracts with brewing partners into 2020.

REGULATORY – the risk of local council regulations halting the new brewery build progress

We are working with the Auckland Council on getting consents for the premises. We will keep very open dialogue with Council about what they need from us. We are solution oriented and will work closely with Council to get everything up and running.

DOWNTURN IN CRAFT BEER CONSUMPTION The risk that demand for craft beer will decline.

We see the risk of a downturn in craft beer consumption being a low risk based on the way more developed craft beer markets around the world have continued to grow.. We have the ability to cater to people's tastes when needed and lead people to try new things at the same time.

LOSS OF SUPPLY - risk of not having beer to sell.

We have contracts with our contract brewing facilities, covering our production well beyond the expected date of our brewing operations getting started. Our risk is very well managed in this area and opening our own production facility will further reduce this risk.

Note from PledgeMe 

We have completed a Veda check on the company and their Director, as well as a Google check. There were no adverse findings. 

Definition of wholesale investor

A wholesale investor can be defined as people who meets any one of these 5 criterion:

  1. are an investment business, in that their principal business involves investing in financial products, acting as an underwriter, providing financial advisory services, providing broking services or trading financial products;
  2. have, during the previous two year period, owned a portfolio of, or carried out transactions to acquire financial products of a value of at least $1 million;
  3. have, in the previous two years, materially participated in the investment decisions made by an investment business;
  4. have, or any entities controlled by them, have, as at the last day of the two most recently completed financial years, net assets or total consolidated turnover exceeding $5 million;
  5. are "eligible investors", and have certified that they have previous experience in acquiring or disposing of financial products that allows them to assess:
  • the merits of the transaction;
  • their own information needs in relation to the transaction;
  • the adequacy of the information provided, that they understand the consequences of so certifying, and the grounds for this certification; or
  • an authorised financial adviser, a chartered accountant, or a lawyer signs a written confirmation of the certification. 

 

Updates 3

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    Details

    Offer Details

    Current Valuation 23,243,000
    Raise Minimum 0
    Raise Maximum 1,500,000
    Share Price 1.00
    Maximum Shares Offered 1,500,000
    Explanation of valuation:

    Our valuation was arrived at by researching and assessing common revenue multiples that have been used value growing companies in the beverage industry. Standard revenue multiples that have been used is tend to be 6 and above the previous years reported revenue, so we have decided to take a conservative approach and use a multiple of 5.5 times our last reported annual revenue.

    Financial Summary

    Prev Year Current Year Est. FY 2021 Est. FY 2022
    Revenue NZ $4,226,000 NZ $5,970,000 NZ $10,237,000 NZ $12,753,000
    Operating Expenses NZ $1,150,000 NZ $1,739,000 NZ $2,524,000 NZ $2,681,000
    EBITDA NZ $308,000 NZ $224,000 NZ $1,186,000 NZ $2,249,000
    Net Profit NZ $212,000 -NZ $134,000 NZ $829,000 NZ $1,854,000

    Company Details

    Company Name: Behemoth Brewing Company Limtied

    Company Number: 4358759

    Company details are currently being synced with the Companies Office, please wait.

    Company Documents

    Documents no longer available to download, as this campaign has closed

    Director Details

    Name Role Profile URL Invested?
    Andrew Childs Managing Director https://app.companiesoffice.govt.nz/companies/app/ui/pages/companies/4358759/directors

    Questions 1

    Ask a Question (You must login to ask a question)


    What's the difference between this pledge and https://www.pledgeme.co.nz/investments/360-behemoth-brewing ?

    Posted on 19-06-2019 by HappyEvilSlosh

    Hey HappyEvil Slosh

    Have also answered you on the wholesale page but will cut and paste here so everyone can see the same thing:

    There is no difference in rewards or class of shares. It is simply that we can only raise $2m from retail investors and the maximum total we are after is $3.5m.
    Whole sale investors allow us to go over $2m, but they also are included in the total wholesale for our minimum raise amount of $1.5m. Hope that answers your questions. Anything else you can email me [email protected]

    Cheers,
    Andrew

    Answered on 19-06-2019 by Behemoth Brewing

    Pledgers 8

    Chris
    2019-07-14 22:59:43 +1200
    Jason Familton
    2019-07-14 22:46:42 +1200
    Alistair Wilson
    2019-07-14 22:44:52 +1200
    David Heald
    2019-07-03 15:35:16 +1200
    Philip Bowman
    2019-06-29 11:24:04 +1200
    Mark Hiddleston
    2019-06-22 20:31:08 +1200
    Peter Eastwood
    2019-06-07 13:59:40 +1200

    "Good luck Andrew and Hannah. Looking forward to the next stage of development. "

    Phil Ison
    2019-06-04 13:25:02 +1200

    Followers 1

    Followers of Behemoth Brewing (Wholesale)

    Behemoth Brewing (Wholesale)

    We are sorry you missed the current round of crowdfunding, which closed with 635 new shareholders in Behemoth Brewing and $2.06m of capital raised. Please feel free to register your interest in investing in future Behemoth crowdfunding campaigns, or the possibility of purchasing shares off existing shareholders.  

    Behemoth combined raise

    The investment offer will only be accepted if a total of $1.5m NZD, or over, has been pledged from the crowdfunding offer and/or wholesale offer by 15 July 2019. This campaign page is for wholesale investors (refer to IM for explainer, and in footer of this campaign page for definition of wholesale investor). If you're not a wholesale investor and arrived on this campaign page unintentionally. Please visit Behemoth's equity crowdfunding campaign for non-wholesale investors.

    Behemoth Brewing Company (Behemoth) was created in 2013, the dream of Andrew Childs; a beer nerd, beer drinker and home brewer (and sometimes referred to as the Beer Giraffe, due to being really bloody tall).

    In the last six years Behemoth has come a long way. It has gone from doing a 1,200 litre brew once every few months to brewing more than 530,000 litres of beer in the last year.  This means someone drinks a pint of Behemoth every 30 seconds, somewhere in the world. Now, that is a little crazy.

    We are currently the 4th biggest independent craft brewery in grocery sales in New Zealand and we are now ready to put the foot on the gas by establishing our own brewery and restaurant in Auckland.  

    We haven chosen to equity crowdfund because because we want to provide our supporters with the opportunity to Be Part of Behemoth’s Home; part of our story. A story of big beers and cheeky antidotes, a brewery, a new food and beer experience hub, and a thriving and exciting industry. 

    The benefit in using a crowdfunding platform like PledgeMe also means that we can include additional rewards with each share package or parcel sold, adding additional benefits to those whom purchase shares in Behemoth.

    We have come up with some great benefits that Behemoth shareholders (Chur-holders) will enjoy, in addition to the share in the company they gain through their investment. The investment level chosen will determine the contents of the package and membership level.

    P.S. We think they are pretty freaking sweet!

     

     

    What we've done so far

    Behemoth achievements

     Annoyed the leader of the free world?  TICK

     And the leader of the non free world?  TICK

    Given it to the Aussies?  TICK 

    Learnt some sweet brewery yoga moves?  TICK

    Behemoth has grown rapidly since it was started in 2013 when we brewed our first beer "Celia Wade Brown Ale". The beers and puns have come thick and fast since and we have brewed over 125 unique beers in 6 years. We are now one of the largest independent craft brewers in New Zealand.

     

    In the previous financial year our revenues grew by 136% as we focused on strengthening our domestic and export sales. For the first time we put our beers into 6 packs, we really ramped up the brewing of our 440ml limited release beers and shipped our beers to 11 export markets. This delivered a net profit for the first time as the business starts to mature. We look forward to doing more of the same in 2020 and onwards.

     

    What's next?

    Our strategy over the next three years is to continue to grow Behemoth domestically and overseas. We have some exciting things in the works to ensure this growth!

    Churly' Bar and Restaurant - Dominion Road, Auckland

    Attached to the new production facility at the top of Dominion Road in Auckland (see below) Churly's will be a brewpub with a difference. It will offer all the usual things you would expect from Behemoth and a tap room; a welcoming local place for a casual Behemoth beer, a place to bring out of towners to do tastings and tours and a place to buy beers for takeaway to drink at home (or even better someone elses home). But.....it will be something different from your usual craft beer tap room with the addition of a food and beer matching restaurant. The restaurant will focus on a nose to tail menu that will be supplied by our onsite butchery. We feel that this sustainable and low waste dining experience with a true focus on food and beer matching will be an exciting addition to the Auckland food scene.

    Behemoth Brewery - Dominion Road, Auckland

    Attached to Churly's Bar and Restaurant (see above) the Behemoth Brewery will finally mean we have our own production facility after years of begging and borrowing generously offered space in other peoples breweries around New Zealand. Commerically, having our own brewery is a sensible move as it helps manage the risk of reliance on contract brewing, as well as providing a more economic cost base for our beers. It also offers us the ability to really push the boat out in terms of our seasonal and limited release beers; including the start of our barrel aging and co-fermentation projects. As well as the 3,000L brewery it will feature a 600L trial kit that our brewers can experiment on and it will allow us to brew small volume batches for the North Hemisphere customers who don't want to be drinking Imperial Stouts in their summer.

    It's not all about bigger being better!

    .......well, not all the time.

    We are very excited about the release of our single serve core range in 330ml printed cans. Previously our single serve core range were packaged 500ml bottles, but we think that 330ml cans are the future for craft beer. They reduce oxidation and light strike on the beer, they have a lower carbon footprint than glass, they are lighter to transport (once again reducing resource use and carbon emissions) and are much harder for our freight companies to smash! Plus, the look great. Ranged across the Foodstuffs network and traditional liquor we expect to see significant growth in these four core range beers in the next year.

    If the Mountain won't come to Churly

    Our export sales have grown from virtually zero to over 10% of our revenue in the last two years. Churly's will give us the ability to continue this growth with more allocation of speciality beers to our export customers. Longer term though, we think that our export propostion needs to be provisioned from closer to the market, otherwise we will hit a ceiling in terms of what we can sell to the big wide world.

    What does this mean? It means we will be looking at options to brew our beers in-market overseas. This benefit being that the customer gets to drink fresher beer, at a better price (as we aren't shipping the beer from the bottom of the world). We envision this will create more demand for our beers overseas. We will need to ensure we brew to the same great standards we have in New Zealand and to do this we need to ensure we find partners who have the same passion for quality that we do. We are confident we can do this in time and we will work slowly and methodically to ensure we have everything in place to make such a project a success.

    Revenue and Profit Growth

    During 2020 we will invest in the above projects and these will start to deliver revenue and profit growth from 2021 onwards.

    Use of capital 

    Share Offer

    Issuing up to 2m shares at the total value of $2m to crowdfunding investors through a crowdfunding offer and up to 1.5m shares at a total value of $1.5m to wholesale investors through a wholesale offer (refer to IM for explainer). This makes the total offer up to 3.5m shares, which constitutes 13.09% of the company. The minimum subscribed investment threshold is $1.5m.

    If you're not a wholesale investor and arrived on this campaign page unintentionally. Please visit Behemoth's equity crowdfunding campaign for non-wholesale investors.

     

       

    Capitalisation Table

     

    About our Team

     

    Churly - The Behemoth Monster

    Behemoth's friendly neighborhood monster, Churly, is a mainstay of our branding. He loves dressing up as different characters on our labels. From Presidents to Rappers and Little Old Ladies, nothing daunts Churly.

            

     

    Andrew Childs - Managing Director and Head Brewer

    AKA, the Beer Giraffe, he's the man with the vision. The founder. He's full of passion for great beer and has a mind overflowing with ideas. When asked who does Behemoth's marketing, his reponse is, "I am the marketing department."

     

         
     

    Hannah Miller-Childs - Operations Manager

    A butcher/chef by trade, she jokes that Andrew tricked her into joining Behemoth. An eye for detail was exactly what Behemoth needed and she is now referred to as "Behemoth's glue".

       

    Julie Keoghan (CA) - Finance Manager

    The money lady. Chartered Accountant and busy mum of three, she’s a natural when it comes to multi-tasking, which comes in handy when organizing funds while wrangling debtors. 

       

    Roger Kerrison - Commerical and Export Manager

    Overseas trade is the name of the game and his diplomatic abilities are second to none. With a strong background in selling craft beer around the world, his knowledge of the business of beer is a daily asset.

     

    Andy Graham - Lower New Zealand Sales Manager

    Recently married and the newest member of the Behemoth Team, he brings a first hand knowledge of the grocery side of the business having grown up in his parents Four Square.  This is perfect for him to build relationships with our accounts in Wellington and the Lower South Island.

     

       

    Pearse Shield - Central North Island Sales Manager 

    Behemoth’s resident beer geek. If you’re after some knowledge on the newest, rarest, biggest beers, he’s your man. And coming from a background in traditional liquor, he offers great support to our Central North Island customers.

       

    Angelo Anapa - Warehouse and Delivery Manager

    Forklift driver of the year! When space in the chiller gets a little tight, he always finds a slot for one extra pallet. Between that and keeping the freight companies inline, it’d be a hard days work without him.

       

    Sarah Thompson - Auckland On-Premise Sales Rep

    Brewer, baker, charcuterie-maker. What can’t this girl do? Her wealth of knowledge from a brewing & hospitality perspective makes her the perfect liaison between Behemoth and Auckland’s on-trade customers

     

    Risks and Challenges

    We have thought long and hard about the risks and challenges in delivering our forecasted revenue and profit growth, they are documented below.

    Risk

    How we’ll mitigate them

    BEER QUALITY – the risk of a decline in beer quality from moving to a new premises with new equipment

    We will appoint an experienced Head Brewer to work closely with Andrew in the brew pub premises. We plan on moving production slowly to our new brewery. If the beer is not up to scratch, it will not be released to market. Quality is of the utmost importance..

    CASHFLOW – the risk of not having enough cashflow or working capital to meet obligations, due to either poor sales or late paying customers

    We have good systems to manage and mitigate the risk from late paying customers and we also have a credit policy that limits our exposure to individual customers.

    INCREASED COMPETITION – the risk of the market significantly heating up with increased competition

    We are a dynamic and resourceful company. As more and more brewing companies enter the market, we plan to keep making beers people enjoy, introducing new brewing techniques, and packaging our beer in new ways. We will continue to do the things that have proved successful previously and continue to grow our market share.

    KEY PERSONNEL – the risk of losing key personnel

    We pride ourselves on treating staff well, compensating them appropriately, and making them feel part of the team. We plan to retain good staff, but we also appreciate there are times when people will leave Behemoth to further their careers or follow their dreams. We, therefore, have succession plans in place for if key personal move on.

    PROFITABILITY – the risk of not operating profitably

    We have worked hard to become profitable and sustainable. We have budgets in place and if for any reason they are not met, we will act swiftly to get ourselves back on track. We produce in depth management reports on a monthly basis that examine our performance, including profitability.

    PROJECT DELAYS – the risk of the new brewery build being delayed by unforeseen circumstances

    We have allowed for the brewery being delayed due to construction delays. We want to open Churly’s Bar/Restaurant by November 2019 to make the most of Christmas and Summer trade. We believe this to be achievable if everything goes to plan, but if it doesn’t occur, we are able to delay the opening until early 2020 without much impact to the bottom line. This is why we are conservatively budgeting in our forecasts. The brewery being delayed will not be too much of an issue as we have supply contracts with brewing partners into 2020.

    REGULATORY – the risk of local council regulations halting the new brewery build progress

    We are working with the Auckland Council on getting consents for the premises. We will keep very open dialogue with Council about what they need from us. We are solution oriented and will work closely with Council to get everything up and running.

    DOWNTURN IN CRAFT BEER CONSUMPTION The risk that demand for craft beer will decline.

    We see the risk of a downturn in craft beer consumption being a low risk based on the way more developed craft beer markets around the world have continued to grow.. We have the ability to cater to people's tastes when needed and lead people to try new things at the same time.

    LOSS OF SUPPLY - risk of not having beer to sell.

    We have contracts with our contract brewing facilities, covering our production well beyond the expected date of our brewing operations getting started. Our risk is very well managed in this area and opening our own production facility will further reduce this risk.

    Note from PledgeMe 

    We have completed a Veda check on the company and their Director, as well as a Google check. There were no adverse findings. 

    Definition of wholesale investor

    A wholesale investor can be defined as people who meets any one of these 5 criterion:

    1. are an investment business, in that their principal business involves investing in financial products, acting as an underwriter, providing financial advisory services, providing broking services or trading financial products;
    2. have, during the previous two year period, owned a portfolio of, or carried out transactions to acquire financial products of a value of at least $1 million;
    3. have, in the previous two years, materially participated in the investment decisions made by an investment business;
    4. have, or any entities controlled by them, have, as at the last day of the two most recently completed financial years, net assets or total consolidated turnover exceeding $5 million;
    5. are "eligible investors", and have certified that they have previous experience in acquiring or disposing of financial products that allows them to assess:
    • the merits of the transaction;
    • their own information needs in relation to the transaction;
    • the adequacy of the information provided, that they understand the consequences of so certifying, and the grounds for this certification; or
    • an authorised financial adviser, a chartered accountant, or a lawyer signs a written confirmation of the certification. 

     

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      Offer Details

      Current Valuation 23,243,000
      Raise Minimum 0
      Raise Maximum 1,500,000
      Share Price 1.00
      Maximum Shares Offered 1,500,000
      Explanation of valuation:

      Our valuation was arrived at by researching and assessing common revenue multiples that have been used value growing companies in the beverage industry. Standard revenue multiples that have been used is tend to be 6 and above the previous years reported revenue, so we have decided to take a conservative approach and use a multiple of 5.5 times our last reported annual revenue.

      Financial Summary

      Prev Year Current Year Est. FY 2021 Est. FY 2022
      Revenue NZ $4,226,000 NZ $5,970,000 NZ $10,237,000 NZ $12,753,000
      Operating Expenses NZ $1,150,000 NZ $1,739,000 NZ $2,524,000 NZ $2,681,000
      EBITDA NZ $308,000 NZ $224,000 NZ $1,186,000 NZ $2,249,000
      Net Profit NZ $212,000 -NZ $134,000 NZ $829,000 NZ $1,854,000

      Company Details

      Company Name: Behemoth Brewing Company Limtied

      Company Number: 4358759

      Company details are currently being synced with the Companies Office, please wait.

      Company Documents

      Documents no longer available to download, as this campaign has closed

      Director Details

      Name Role Profile URL Invested?
      Andrew Childs Managing Director https://app.companiesoffice.govt.nz/companies/app/ui/pages/companies/4358759/directors

      Ask a Question (You must login to ask a question)


      What's the difference between this pledge and https://www.pledgeme.co.nz/investments/360-behemoth-brewing ?

      Posted on 19-06-2019 by HappyEvilSlosh

      Hey HappyEvil Slosh

      Have also answered you on the wholesale page but will cut and paste here so everyone can see the same thing:

      There is no difference in rewards or class of shares. It is simply that we can only raise $2m from retail investors and the maximum total we are after is $3.5m.
      Whole sale investors allow us to go over $2m, but they also are included in the total wholesale for our minimum raise amount of $1.5m. Hope that answers your questions. Anything else you can email me [email protected]

      Cheers,
      Andrew

      Answered on 19-06-2019 by Behemoth Brewing

      Followers of Behemoth Brewing (Wholesale)

      Chris
      2019-07-14 22:59:43 +1200
      Jason Familton
      2019-07-14 22:46:42 +1200
      Alistair Wilson
      2019-07-14 22:44:52 +1200
      David Heald
      2019-07-03 15:35:16 +1200
      Philip Bowman
      2019-06-29 11:24:04 +1200
      Mark Hiddleston
      2019-06-22 20:31:08 +1200
      Peter Eastwood
      2019-06-07 13:59:40 +1200

      "Good luck Andrew and Hannah. Looking forward to the next stage of development. "

      Phil Ison
      2019-06-04 13:25:02 +1200
      This campaign was successful and got its funding on 15/07/2019 at 9:00 PM.

      This campaign has closed, but this company may choose to do more equity raises on PledgeMe in the future. If you're interested in investing in Behemoth Brewing (Wholesale), you can sign up to be notified when a new equity campaign from this company is published.

      Notify Me

      Investor Perks

      Opal Membership

      NZ $1,000.00+

      Ownership in Behemoth Brewing (Class A shares) * OPAL Chur-holder Pin that gives you a 5% personal discount at Churly’s in Auckland and Behemoth online for as long as you retain your shares * Exclusive Behemoth Owner’s Chalice * Limited Edition Investor’s T-shirt and Hat * A can of Behemoth’s “Visit our Brew Pub IPA” - when released * An invite to join the Chur-holder Club which offers exclusive access to the following: Membership of the Chur-holder Club. Special newsletters and invite to exclusive Facebook Group. An invitation to the AGM at the brewery with food and beverages provided after the meeting. Advance notice of new (and limited) releases. First rights to purchase annual & limited release beer * All rewards that require shipping will be delivered free of charge to any address in New Zealand. We unfortunately cannot ship the rewards overseas.

      Bronze Membership

      NZ $2,500.00+

      Ownership in Behemoth Brewing (Class A shares) * BRONZE Chur-holder Pin that gives you a 10% personal discount at Churly’s in Auckland and Behemoth Online * Everything from Opal Membership (with the variation of pin and discount) * Free “Pint and Platter” meal on your birthday (or, if not in Auckland, a voucher for the equivalent, $45, to use at Behemoth online) * All rewards that require shipping will be delivered free of charge to any address in New Zealand. We unfortunately cannot ship the rewards overseas

      Silver Membership

      NZ $5,000.00+

      Ownership in Behemoth Brewing (Class A shares) * SILVER Chur-holder Pin * Everything from Bronze Membership (with the variation of pin) * 6 pack of Crowlers (946ml cans of keg fresh beer) every 12 months for 3 years. Note: These beers will be taken from a selection of limited release beers *All rewards that require shipping will be delivered free of charge to any address in New Zealand. We unfortunately cannot ship the rewards overseas.

      Emerald Membership

      NZ $12,500.00+

      Ownership in Behemoth Brewing (Class A shares) * EMERALD Chur-holder Pin * Everything from Silver Membership (with the variation of pin) * 6 pack of Crowlers (946ml cans of keg fresh beer) every 6 months for 3 years. (Double the allotment of Silver Membership) Note: These beers will be taken from a selection of limited release beers * An invite to the once a year Churholders Behemoth Brew Day w/ Complimentary lunch, 6-pack of the resulting beer & brew day t-shirt * An invite to join the Chur-holder Premium Club with exclusive access to the following: All Chur-holder Club Member entitlements. A vote to decide the annual exclusive “members-release” beer style and name. Exclusive members’ privileges at Churly’s. First rights to book The Monster’s Table (Private Dining Room) at Churly’s for special occasions and during the festive season * All rewards that require shipping will be delivered free of charge to any address in New Zealand. We unfortunately cannot ship the rewards overseas.

      Gold Membership

      NZ $25,000.00+

      Ownership in Behemoth Brewing (Class A shares) * GOLD Chur-holder Pin * Everything from Emerald Membership (with the variation of pin) * Two invitations to the yearly “Chur-holder Banquet”, featuring a Complete Nose to Tail Menu, matching beers, with hosts, Andrew Childs & Hannah Miller Childs (value $400) *All rewards that require shipping will be delivered free of charge to any address in New Zealand. We unfortunately cannot ship the rewards overseas.

      Sapphire Membership

      NZ $50,000.00+

      Ownership in Behemoth Brewing (Class B shares - Voting Rights) * SAPPHIRE Chur-holder Pin * Everything from Gold Membership (with the variation of pin) * A private party (complete with food and beer matching) personally hosted by Andrew & Hannah Childs in the brewery for you and your guests. To be redeemed at Churly’s in the first year of opening (value of $1500) * All rewards that require shipping will be delivered free of charge to any address in New Zealand. We unfortunately cannot ship the rewards overseas.

      Warning statement about equity crowdfunding

      Equity crowdfunding is risky.

      Issuers using this facility include new or rapidly growing ventures. Investment in these types of business is very speculative and carries high risks.

      You may lose your entire investment, and must be in a position to bear this risk without undue hardship.

      New Zealand law normally requires people who offer financial products to give information to investors before they invest. This requires those offering financial products to have disclosed information that is important for investors to make an informed decision.

      The usual rules do not apply to offers by issuers using this facility. As a result, you may not be given all the information usually required. You will also have fewer other legal protections for this investment.

      Ask questions, read all information given carefully, and seek independent financial advice before committing yourself.