Just in case it is of any interest, Lacada have opened a share offering.
More info:
http://www.lacadabrewery.com/shares
Wouldn't give them the time of day......that being said I am a "co-owner" and they are doing great beers plus the head brewer is a great lad
The terms are not good if it's an investment you are after.
Quote from: DEMPSEY on October 14, 2019, 05:30:55 PM
The terms are not good if it's an investment you are after.
It's a cooperative which is unusual in and of itself. So yeah, your only return can be in the form of profits returned as dividends, or the dissolution of the coop, where the assets have increased in value substantially.
I think you have to understand what you are getting into as a coop, and the model has succeeded well for some stateside breweries, but the law could be quite different here.
I am no expert, but I would really like to see what happens to the current owners equity when the brewery converts into a cooperative.
It already is a co-op. The current shareholders are equal to that of the new shareholders meaning those that "invested" at its inception are no better off than those than now know it's reasonably successful. I might add that in the 4 years since it was launched there has been no dividend for shareholders and that any profit has been pumped back into the brewery. As an early investor I see no benefit ifit at all to becoming a shareholder.
Thanks @roo for the clarification.
It's quite a different philosophy to incorporation, and I think the appeal of cooperative ownership increases the closer you are in proximity to the business.
I wouldn't expect an increase in dividends any time soon - cash raised from this will go into growth.
Strange that they are using photos from Heaney Brewery in their share brochure, is their own equipment that bad looking?
Quote from: Ceedee on October 21, 2019, 07:00:48 PM
Strange that they are using photos from Heaney Brewery in their share brochure, is their own equipment that bad looking?
I think their kit is a little bit more "cobbled together" than Heaney's. Suppose they're showing what they want to buy as well.