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Windsor & Eton Brewery

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We’re an award-winning, Royal Warrant holding brewery on a mission to make beer Windsor's top attraction.

244%
 - 
Funded 22 Jul 2021
£300,000 target
£762,963 from 554 investors
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Business overview

Location Windsor, United Kingdom
Social media
Website www.webrew.co.uk/
Sectors Food & Beverage Mixed Digital/Non-Digital Mixed B2B/B2C
Company number 07069266
Incorporation date 7 Nov 2009
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Investment summary

Type Equity
Valuation (pre-money) £7.5M
Equity offered 8.91%
Share price £3.125
UK tax relief N/A
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Business highlights

  • Brewing over 1.4M pints each year
  • Won over 70 international, national, and regional beer awards
  • Holder of a Royal Warrant as Brewer to Her Majesty the Queen
  • Great Beers and Great Bars for a Greater Good
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Key features

  • Secondary Market
  • Nominee investment min. £12.50 +
  • Idea
  • Key Information
  • Investor Perks
  • Team
  • Updates
  • Investors 554
  • Discussion
  • Documents

Idea

Introduction

Join us as WE Brew together.

Founded in 2010, we’ve spent the past 11 years building a very special and community-centered brewery. After years working for large corporations, we set out to bring craft brewing back to the heart of Windsor. Now, we are well on our way to making beer Windsor’s top attraction.

With decades of brewing expertise behind us, our beers have won over 70 international, national, and regional awards - and a Royal Warrant too!

We believe in great beer, great pubs, and being a force for good for our environment and the local communities we serve.

Substantial accomplishments to date

We’ve achieved a lot over the years, and this is just the start:

· Holder of a Royal Warrant as Brewer to Her Majesty the Queen

· Great Beers and Great Bars for a Greater Good

· Supporter of many local and regional charities and events

· Brewing almost 1.5M pints each year

· Winner of over 70 international, national, and regional beer awards

· Supplier to over 200 pubs, bars, and hotels

· Supplier of exclusive bottled beers to the House of Commons

· Supplier to London’s Shakespeare’s Globe

· Over £600,000 of direct sales to consumers through the brewery tap, shop, and home deliveries during 2020*

· Running 5 successful bars in and around Windsor, serving some of the town’s 7.6M visitors per year**

· Founder members of the London Brewers Alliance– bringing craft beer to Londoners and visitors alike

· Member of the Worshipful Company of Brewers

· Creators of the Windsor beer festival- now in its 5th year

· New 200m² taproom opening in summer 2021

*Based on unaudited management accounts

**See key information section regarding interests in bars/pubs - some of the interests are not 100% owned by Windsor & Eton or may be subject to revenue share arrangements

Monetisation strategy

There are four ways in which we make money.

- On-Trade: We sell cask and keg beer to free trade pubs and pub companies, with a great reputation as a fair, reliable, and quality supplier.

- Off-Trade: We supply bottled beers to supermarkets, convenience stores, and off-licenses. With the planned purchase of a canning line, we will be expanding our offering to include 440ml cans for our Uprising range.

- Direct to Consumer: Combined sales from our brewery shop and online shop provide a consistent, reliable source of revenue, particularly from local consumers. We are constantly developing our online and on-site offerings.

- Pubs and Bars: Our pubs and bars play a vital role in our revenue stream. We are looking to rapidly expand our estate over the next 5 years, driving more growth and securing greater distribution opportunities for our beers.

Use of proceeds

Most of the proceeds from our target raise will be used to kickstart plans to grow our estate from our existing 5 venues to 20 by 2026. We’re looking to start with a major new bar in the heart of Windsor. It is a town with 7.6m visitor day trips, 600,000 visitor overnight trips per year, and where 65% of visitors come from the UK and 35% from overseas.

The remaining proceeds from our target raise will be used to buy our own canning line. Having a canning line on-site means our beers will be fresher and will allow us to can more small pilot brews for you to enjoy.

We have big plans in place for any additional funds raised – focusing on developing more new pubs and bars and driving our international sales.

Key Information

Outstanding debt

The company has the following outstanding debt:

1. £250,000 CBILs loan from Natwest at an interest rate of 2.8% per annum. (Coronavirus Business Interruption Loan). Repayments of the loan will begin in October 2021, and will be paid in monthly instalments of c£4.8k per month over 5 years.

2. £100,000 CBILs loan from White Oak UK at an interest rate of 7% per annum. (Coronavirus Business Interruption Loan). Repayments of the loan will begin in October 2021, and will be paid in monthly instalments of c£2.7k per month over 4 years.

3. Two director loans:
(a) A loan of £58,000 with an accruing interest rate of 5% plus base rate per annum, with no set deadline for repayment.
(b) A loan of £125,000 which was used to purchase equity in The Swan pub. This loan will be accruing an interest rate of 5% plus base rate per annum from August 2021 (two years since The Swan opened). There is no set date for repayment on this.

4. The company also has a deferred VAT payment owed to HMRC from Q1 2020. The outstanding balance is currently £48,840, and is currently being repaid in £6k instalments each month.

The funds raised from this investment round will not be used to repay this debt.

Business Interests

The company holds an 80% stake in Webrew Taverns Limited, a legal entity that owns one pub in Eton. This company does not hold any relevant IP or trademarking that Windsor & Eton Brewing Company Limited relies upon.

Trading benefits from pubs

Windsor & Eton Brewing Limited, the investee company, (‘The Company’), is involved in running 5 pubs in and around Windsor. Please find below the overview of the business interest from each pub.

1. The Swan
- 25% owned by The Company
- 25% is owned by the Green Room School Foundation
- 50% is owned by 120 other investors
- All revenues and operations from this pub go to the Swan Clewer Community Interest Company
- The Company does not receive income from this pub, but will receive dividend payouts once paid from the 25% equity stake The Company holds.

2. The George
- This pub is leased, with 80% of the business benefit going to The Company
20% of the pub is owned by another shareholder

3. The Old Court Bar
- 100% of revenue is received by The Company. The company then pays the Landlord, The Old Court Community Interest Company, a percentage of revenue as rent.

4. Rose & Olive Branch
- Leased with 100% of revenue going towards The Company

5. Brewery Tap
- This is The Company's on site tap room at their brewery. 100% revenue goes to The Company

Please note, some of the arrangements around revenue share in relation to these trading interests have been agreed between parties but are not subject to formal contract arrangements. The directors of the Company see these interests as beneficial to the Company and they do provide a revenue stream, but are not considered a core part of the Company's assets.

Investor Perks

As well as having shares in our business, we’ve created a series of rewards as a thank you for your support.

Please note that any discounts, rewards and/or offers listed by a company in its campaign are subject to the terms and conditions applied by that company and listed above. It is the company’s responsibility to honour such discounts, rewards and/or offers and Seedrs does not take any responsibility for them.

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Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

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Investing involves risks, including loss of capital, illiquidity, lack of dividends and dilution, and should be done only as part of a diversified portfolio. Please read the Risk Warnings before investing. Investments should only be made by investors who understand these risks. Tax treatment depends on individual circumstances and is subject to change in future.

This campaign for Windsor & Eton Brewery has been approved by Seedrs Limited (trading as Republic Europe) ("Republic Europe", "us" or "we"), as of 24 June 2021 as a financial promotion. Republic Europe is authorised and regulated by the Financial Conduct Authority with firm reference number 550317. In approving this campaign, Republic Europe has concluded that the information, taken as a whole, is "fair, clear and not misleading." This means that for factual statements we have reviewed evidence of their accuracy, and that for aspirational statements we believe they are phrased appropriately in light of their speculative nature. You should note that in the case of factual statements, the evidence we review is provided by the business, and we do not audit it, which means that we may not be able to identify forged or altered evidence. You should further note that in the case of aspirational statements, the nature of the type of businesses presented on the Republic Europe platform is such that they are likely to have high ambitions, and we may approve statements that convey those ambitions even where we do not believe, or we do not have a view on whether it is likely, that they will be fully realised. The pre-money valuation and investment sought in the campaign are those set by the business: they are not reviewed or established by us, and the valuation is not an independent view of what the business is worth. Given the nature and type of businesses presented on the Republic Europe platform, it is possible that the business has very little cash remaining prior to receiving this investment, and the investment sought may be necessary for the business's on-going existence.

Republic Europe does not make investment recommendations to you. No communications from Republic Europe, through this website or any other medium, should be construed as an investment recommendation. Further, nothing on this website shall be considered an offer to sell, or a solicitation of an offer to buy, any security to any person in any jurisdiction to whom or in which such offer, solicitation or sale is unlawful. Republic Europe does not provide legal, financial or tax advice of any kind. If you have any questions with respect to legal, financial or tax matters relevant to your interactions with Republic Europe, you should consult a professional adviser.

Tax Relief (SEIS)

This business is eligible for SEIS relief - providing qualifying investors with income tax relief of 50% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Tax Relief (EIS)

This business is eligible for EIS relief - providing qualifying investors with income tax relief of 30% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Valuation (pre-money)

Valuation rounded from £7,500,000

This is the fully-diluted pre-money valuation of the business (i.e. before the new investment comes in and including issued options and other equity interests). In contrast, the post-money valuation is based on inclusion of the new investment in the value.

It is calculated as the pre-money valuation plus the amount of new investment. e.g. If Company A is ascribed a pre-money valuation of £1,200,000 by prospective investors investing £300,000, its post-money valuation is £1,500,000.

The investee business is responsible for setting its own valuation, it has not been prescribed by Republic Europe.

Pitch type

Investing in a regular equity campaign is the simplest and most common way to invest in a startup. You decide which business you want to invest in, and if the campaign hits its funding target then you will become one of their shareholders. As the company becomes more valuable, so do your shares; allowing you the opportunity to share in the future success of the business.

Learn more about pitch type on Republic Europe

Equity Offered

The equity offered is the percentage of the company’s shares being issued in return for the amount of investment raised.

When the amount raised is less than 100%, the equity offered is based on the target raise. Once the company has raised over 100% it is based on the total raised.

In some scenarios, entrepreneurs may accept additional direct investment after closing their Republic Europe campaign. Provided this is within 6 months of the closing and on the same terms, we do not typically offer pre-emption rights on that extra investment (where you have the opportunity to invest again to maintain your percentage shareholding).

Learn more about investing and pre-emption rights.

Nominee investment

This shows if you are able to choose, when making an investment, that you be represented by, and your shareholding be managed by, the Nominee investment.

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Custodian

If you invest in this Campaign, Republic Europe will act as Custodian rather than provide our standard nominee service. This is due to the fact that the business is not directly involved in the share sale and Republic Europe will not benefit from any rights under a shareholder agreement. As a result, Republic Europe will handle administrative tasks as we do normally, but you will not have information or voting rights, updates from the business, preemption on future fundraising, or ongoing support about business trading activity.

Learn more about Custodian here

Secondary market

This shows if the business has opted-in or opted-out of allowing its shares to be bought and sold on the secondary market.

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Direct investment

If available, this is an option to invest and hold shares 'directly' in the company (rather than via the Nominee investment). This option is only available to those investing over the threshold amount, which is determined by the fundraising company.

If you choose to hold your shares directly, you will be responsible for any contractual or administrative arrangements with the company you are investing in.

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Payment options

We are not able to accept card payments for investments into this sector. You can pay for your investment by creating a bank transfer or using funds in your investment account. Your investment will only be completed once the funds have reached our account.

Business Involvement

This Campaign offers shares for sale in business that is not directly involved in this Campaign or the sale. As a result, the Campaign and post-investment experience, including investor rights, will differ from a business-led campaign on Republic Europe. Most notably, the business will not engage with investors in the discussion forums both during and after the sale or provide any updates to investors.

Learn more here

Payment options

We are not able to accept Pay by Bank payments for investments into this sector. You can pay for your investment with a card payment, by creating a bank transfer or by using funds in your investment account. Your investment will only be completed once the funds have reached our account.

Drawdowns

This campaign offers the ability to pay for an investment by drawdowns.

Security Token

A security token is a digital asset that represents ownership or other rights. It is a digital form of traditional investments. In the future, you may be able to trade your investment through compatible exchanges.

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