Equity Investment

Cervezas Dougall's

What is Dougall's? 

Dougall's is a company dedicated to the production and distribution of craft beer under its own brand. They began their business activity in 2006, when Spain was a real beer desert, which has allowed them to see all the growth that the sector has experienced from within.  

Throughout their trajectory they have been able to brew up to 13 different types of beer, which has allowed them to adjust to the different tastes of their potential consumers. Therefore, they have managed to give the brand a great capillarity, which has allowed them to have great recognition nationally. 

The factory located in Liérganes (Cantabria) in the middle of a marvelous natural setting, is a must-see to any visitor. They had more than 2,000 visitors in 2018, an important figure considering that they only opened their doors on Saturdays and let 30 people in at the most. 

Where are they located? 

Currently, Dougall's is in a constant stock shortage, meaning they do not have the capacity to assimilate all their demand. Since 2012, the artisanal beer sector has risen steadily, which has led Dougall's to increase its production at an average rate of 35%, reaching 350,000 liters in 2018. 

The company reached break-even in 2014, and since then it has always been able to generate profits. In 2018, they have reached revenues of €1,124,320 and EBITDA of €190,800. 

What do you need the funds for? 

The current Dougall's factory has reached its peak. That is why they seek, through this capital increase, to finance the construction of a new plant that will allow it to produce up to 1,000,000 liters per year, thus being able to supply all its demand.  

The land on, where they are going to build, has already been acquired (it is adjacent to their current factory.) The money to finance this purchase has been obtained through banks, which also wanted to finance the construction of the new plant, however, the Dougall's team has preferred to give the opportunity to its most loyal customers to become part of the project, which is why they have chosen the crowdfunding equity as a mean of financing.  

They are also going to build a restaurant where they can welcome daily those who want to enjoy the natural surrounding the Dougall's factory, which will generate extra income and continue improving the brand image. 


Important Note: With regard to this round, the investor must know and assume that the shares to be acquired are non-voting shares, which, unlike ordinary shares, do not grant the right to vote in the General Meeting of Members of the Company. On the other hand, non-voting shares grant their holders a minimum preferential annual dividend of 4% on the investment made. If there are no distributable profits to distribute the minimum preferential dividend, the non-voting shares are automatically converted into ordinary shares with full political rights. 

Accordingly, the Company's Shareholders Agreement regulates that, in the case of corporate purchase or "Exit" transactions, the price received for the sale of non-voting shares is in no case lower than the price received for ordinary shares. 

Note 2: The minimum investment is € 997.50 which corresponds to a package of 7 shares. Therefore, the investment will be made in packages of 7 shares.   

The maximum investment is €14,962.50 (15 packages of shares) to accommodate the largest number of people within the round and no one is left out. Thank you for your understanding. 

Waiting list

Investment details


Objective Assessment Report  

Objective Assessment Report

This document details the information that has been evaluated and analyzed by Fellow Funders' team of analysts (according to its own valuation and scoring models) to determine the valuation (Fair Value) of a company/project.

Objective 1.000.000 €
Raised 1.249.868 €
Minimum ticket 997,50 €
Stakeholding price
% Equity
Partners agreement
Tax incentives
Guaranteed reporting period
Waiting list