Thanks. I own a couple of pubs and I am not that optimistic about the future of on-trade beer sales (pubs/bars/restaurants etc) without government action on business rates/discounted supermarket retailing of alcohol. Combined with this is the problem of the tied pub companies (Enterprise/Star Pubs etc) which restrict the available market for companies like Siren. Brewdog had massive early mover advantage - the only way to get a serious toe into the wider market now appears to tap into the distribution network of a major brewer (As Beavertown has just done, like many others before). If this is Siren’s exit plan, then an 11m valuation seems high but not horrendous - as mentioned earlier they make really good beer, and I could see them being an attractive acquisition target in a few years. Don’t know a lot about 7 brothers. Not massively impressed by their pitch but the perks for small investments seem great (if you like the beer) - invest £100, get a £100 voucher! Obviously the above is not advice one way or the other, just the thoughts of an embittered publican!
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