Tag Archives: beer

Partnerships – beer & cheese

I wrote a while ago about the satisfying culinary union of a ripe avocado and a few slices of salty bacon, shoved between a couple of slices of soft wholemeal bread and smeared with spicy brown sauce.

Hungry?

Like cheese? Its usual bedfellows are crackers, grapes and a decent glass of plonk, right?

Well, thanks to good friends Barry & Alex we tried out the slightly off-beat marriage between beer and cheese last Friday, in a cracking collaboration between The Hungry Guest in Petworth and the Arundel Brewery.

(image courtesy of The Hungry Guest website)

Arundel Brewery

(image courtesy of the Arundel Brewery website)

We were served 5 separate combinations of beer and cheese, with some very informative tasting notes on each pairing, and these general characteristics.

  • cut – the bitterness of hops and the carbonation in some beers will “cut through” the richer flavours and textures of cheese
  • complement – two similarly toned pairings merge together, for example poached chicken with a delicate beer, or chargrilled meat with a similarly robust ale
  • contrast – food paired with beer, whose taste notes have an opposing nature – a tart fruit beer with a rich chocolate pudding, for example

So which liaisons worked best?

My own favourite was the Smokehouse Porter (6% ABV) guzzled alongside a complementary Gruyere de Jura. Strong flavours all round – “a wonderfully rich smooth beer with subtle smokey overtones. Our friends at Besmoke (based opposite the brewery) smoked our malt over Sussex Apple Wood using their PureSmoke technology”. The smokiness of the ale definitely worked with the nuttiness of the gruyere. YUM!

Image result for arundel brewery smokehouse porter

Sounds a bit poncey? It could have been, but the whole evening was informative in a quietly understated way. No quaffing and chortling here, just some hard-working people who are clearly passionate about good, local ingredients.

Another successful combo was Big Love and Stichelton Blue Cheese. In this contrasting affair (well, they do say opposites attract) the 5.0% ABV beer, with 40 kg of fresh raspberries in the 1,800 litre brew), conjured up “a slightly tart aftertaste to the fruity ale”, and which offset the creamy full-on flavour of the exceptional blue cheese.

Image result for stichelton blue cheese from the hungry guest

Cheese & wine parties are so 1970s, darling. I’m off to Arundel to shove a load of the brewery’s interesting beers into the boot, and swinging by the temperature-controlled cheese room at The Hungry Guest in Petworth on the way back, to provide a very contemporary and artisanal beer & cheese party.

Now, shall I invite some contrasting friends…or some cutting ones?

 

BrewDog – so do you feel lucky, Punk?

BrewDog only started up in 2007, north o’ the border in Fraserburgh, as a small ground-breaking craft beer brewer. Their inspiration was to be everything that the global brewing behemoths weren’t.

And blow me, they’re making amazing progress.

I’ve heard of them over the last year or so, and may even have subliminally seen some of their beers on sale somewhere, but now I’ve actually invested in their latest Punk Equity round.

Why?

For a start, the current equity raising round of up to £25m is being crowdfunded, raised by themselves rather than through a generic crowdfunding platform. And certainly not via the traditional  investment banking establishment. As a result their total costs will be only £200k, compared with a possible £1m+ if they were using the banking community. I love this way of leveraging the power of the interweb thingy.

But more importantly, from an investment appraisal perspective:

  1. they’re already profitable, with an operating profit of £3.9m and post-tax profit of £2.7m in 2014, with healthy gross & net margins
  2. the top line is growing strongly, from £18m in 2013 to £29.6m in 2014, with massive growth potential in this country and overseas
  3. the senior management team includes the founders, who are clearly passionate about the BrewDog philosophy, brand and product. They’re also heavily aligned with shareholders’ interests to succeed
  4. their beers – and increasing number of own-branded bars – sound very cool, popular and positioned to succeed where traditional pubs are failing (younger, hip nephews who have been to one of their bars agree)
  5. the prioritised list of what they’ll spend the newly raised funds on is exciting and compelling
  6. I love their energy and innovation. They feel like an early-days Virgin, or pre-corporate Ben & Jerry, genuinely wanting to stay true to their values but not afraid to chase aggressive growth. Although only time will tell, of course….

Take a look at their Prospectus. I love it. It’s persuaded me to buy 10 shares for a total investment of £475. Yes, it’s at an aggressive valuation of the business based on a heady multiple of current profitability but, what the hell, this is fun and I’m happy to just go along for the ride.

They may appear edgy and anti-establishment, but they also look very professionally managed. From their track record, from the Prospectus and within seconds of investing, I had access to my shareholder page, with great discounts on beers ordered online and in their bars, and a huge range of other mouth-watering fun benefits.

BrewDog are not quoted on any public exchange yet, but they have an annual internal market  if you ever want to exit. And there’s always the chance of an IPO, or trade sale. I’m guessing that the founders will want to keep control for a while yet though.

I’d love to have got in on an earlier round and a lower valuation, but I can see these guys conquering the world with their great products, service, brand, innovation and management.

And even if they don’t, as a shareholder I’ll get a free beer every birthday.

And who else has the chutzpah to raise money via Equity for Punks?

As with any other equity investment, there are clearly risks involved. These are listed succinctly in the Prospectus. The minimum investment in Equity for Punks IV is 2 shares @ £47.50 = £95.

Cheers, BrewDog.