Camden Town Brewery AB InBev sale defended to craft beer lovers by founder Jasper Cuppaidge
The founder of Camden Town Brewery has been forced to defend a decision to sell the craft brewery to AB InBev, receiving angry questions during a Twitter Q+A today following news of the acquistion.
Jasper Cuppaidge fielded questions from craft beer fans and investors, many of them worried that the beer would change or what would happen to the investment. He insisted that it was "business as usual" despite the new ownership, and that selling was the best way to grow.
Q: Couldn't you have gone another route and grew the business at a slower rate independently rather than selling? Why this?
We want to reach more drinkers and make Camden available around the world, we did what's best for the business. https://t.co/YouyywdKhI
— Camden Town Brewery (@CamdenBrewery) December 21, 2015
Q: Not sure why you keep addressing your answers like you will still own the brewery? It will be @ABInBevUKI_News. Confusing??
I'm still here, it's business as usual. Does this help? https://t.co/Eq6h3OJ6gB
— Camden Town Brewery (@CamdenBrewery) December 21, 2015
Q: What's the going rate for a soul these days ?
Hey – We're only doing what's best for our business. https://t.co/x7oFJTvT7x
— Camden Town Brewery (@CamdenBrewery) December 21, 2015
Q: Jasper, was the crowd funded money and the early investment not enough to achieve building the brewery?
No it wasn't – investment from AB InBev gives us the security we need to continue plus international distribution. https://t.co/glE32A6Tnq
— Camden Town Brewery (@CamdenBrewery) December 21, 2015
Q: What happens with all the crowdfunding money now? All those people have put money into inbev? If I'd invested, I'd be livid.
This is a very successful exit for them, if you think about the size of their investment and the period of time. https://t.co/VGIeuuo2Xq
— Camden Town Brewery (@CamdenBrewery) December 21, 2015
Q: Very disappointed you didn't consult everyone who invested, heard about this through the guardian. Are we now forced out?
Sorry to hear that. What's always driven us is what's best for the business. https://t.co/4TsPQenFKU
— Camden Town Brewery (@CamdenBrewery) December 21, 2015
Q: What happens to the crowdfund shareholders who invested believing in the brand and who r responsible for the popularity?
The deal represents a very successful exit for our shareholders – we're doing what's best for the business. https://t.co/hzL1zGM86f
— Camden Town Brewery (@CamdenBrewery) December 21, 2015
Q: Thoughts on your customers losing that 'we helped create this from a small pop-up stand' thought when drinking Hells from now
We're going to continue to brew our great beer and innovate. You got us here, and you should be proud! https://t.co/2DAy2nV2gI
— Camden Town Brewery (@CamdenBrewery) December 21, 2015
Cuppaidge also confirmed that a pervious investment by a "Belgian manufacturing family" for a 20 per cent stake earlier this year was not AB InBev.
No it wasn't – who told you that?! https://t.co/019UyFAAUO
— Camden Town Brewery (@CamdenBrewery) December 21, 2015
He said he was not worried about the potential competition issues raised by the merger of AB InBev and SAB MIller, which may be forced to sell off Meantime, the Greenwich-based craft brewer which it bought this summer before the deal.
AB InBev are investing in us so we can build our new brewery, employ more people + make more beer – I'm not worried! https://t.co/y89mU3uDfs
— Camden Town Brewery (@CamdenBrewery) December 21, 2015