WANT TO OWN A BREWERY?
INTRODUCTION & BACKGROUND
Nearly four years on since brewing our first beer, Lacada is now one of the top rated breweries in Northern Ireland (UNTAPPD rating as of August 2019) having brewed nearly 50 different beers, held taprooms, formed collaborations, hosted tourists from around the globe, and distributed beer far and wide.
However the beer market is extremely competitive with currently over 36 active breweries in the 6 counties of Northern Ireland, all looking to invest in the very best equipment and seeking to improve the quality of beer available to the consumer.
Having proven our product in the market, the Board of Directors at Lacada believe that it is time to expand and upgrade the brewery to increase our volume, improve quality, reduce costs and, importantly, create jobs. Our proposition, agreed by current co-owners, is to open a Community Share Offer in order for our brewery to move forward in terms of people, impetus and investment.
The following detailed document download highlights why we need to bring in investment so that we can buy equipment and develop the infrastructure necessary for us gain consistency and quality of product and for us to reach new markets.
Share Offer Application
“A Co-operative is an autonomous association of persons united voluntarily to meet their common, economic, social and cultural needs and aspirations through a jointly owned and democratically controlled enterprise.”
It is worth noting the definition of a Co-operative because, in the years since we began, Lacada Brewery has achieved, to varying degrees, the aspirations of its co-owners. We produce great beer, we employ people, we have a community that has come together through Lacada, we founded what is regarded as one of the best beer festivals in Northern Ireland in the Portrush Beer Fest; we have a self-sustaining business, we often can’t keep up with market demand...
So if you want to “OWN A BREWERY”, or perhaps you are a current co-owner and are in the position to invest in more shares, please apply and continue on this journey with us all to help build the future of Lacada Brewery Co-operative by completing the application form via the button link below.
Please note this form is using the secure “Google Forms” service.
You can download a PDF copy of our constitution below.
Below you will find various information which hopefully answers any questions you may have about this share application.
If you still have a query, please get in touch.
What type of investment is this and what return can I expect?
The shares are classified as ‘with-drawable shares’. This means that they cannot be sold or transferred and that they do not go up in value. However the value may fall if liabilities exceed assets, e.g. if the business under-performs. As we are registered as an Industrial and Provident Society it means the co-operative can share out a portion of its profits amongst its members. Dividends paid to members are paid gross and therefore taxable. It is the co-owner’s responsibility to declare any such earnings to HMRC if applicable.
Your investment is fully at risk.
If I want to sell my shares, do I get back what I paid in?
Anybody can ask withdraw their shares, however, it is at the discretion of the Co-operative if this can be done. The decision rests with the Society’s Directors, who will be informed by the members and the Society’s finances.
What happens if the brewery fails?
All assets of the brewery are owned by the Society and if they are sold then any monies are shared amongst member shareholders, after all and any debtors of the business have been paid.
What else do I get by being a member?
You are co-owner of a brewery and you have an equal say in how your business is run. As a member of one of the first co-operatives on the North Coast you will be part of the diverse community that supports the brewery and will be creating a sustainable business that can be passed on from generation to generation. Also, we do hope to offer members some discounted beer at specific times of the year and also the opportunity to taste and give feedback on new brews.
What is my role in the company?
Each shareholder is a member of the Lacada Brewery Co-operative, and each shareholder has one vote. You are invited to take as active or passive role as you would like with the running of the business. General Meetings are held at least quarterly, in addition to an Annual General Meeting. At these, and in correspondence in between meetings if you desire, the views and input of our members are crucial to the decision making of the business. Where possible we hope to operate our General Meetings and Board meetings with consensus, and where this is not achievable we will bring matters to a vote. The Board of Directors is made up of the membership and rotates, with one third of the Board up for renewal each year, to be voted in by the members themselves. A Co-operative benefits from the skills, time, and interest of all of its members. Encouraging friends to buy Lacada beer is a valid contribution in itself!
For more information on co-operative businesses please go to www.uk.coop
The ‘Simply’ series of documents on the site, such as ‘Simply Finance’ and ‘Simply Governance’ are very helpful.