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Westcoast Brewing says strong support from farmers has helped it meet its $2 million capital raising target.
Chief executive Paddy Sweeney said he was hoping to raise another $1 million by the end of August to fund expansion of the Westport brewery and a chain of bars around the country.
He was in Australia yesterday setting up a beer distribution network and talking to potential investors in a micro brewery the company hopes to start up in Queensland.
Sweeney said the company - which grew from the Good Bastards group of mates - appealed to the rural community partly because of it was determinedly politically incorrect.
"If you look at New Zealand culture the staunchest opponents of political correctness are within the rural community and that's served us well."
Against a backdrop of finance company failures and falling business confidence, Sweeney said the company's policy to avoid borrowing had appealed.
On average shareholders had chipped in between $13,000 and $15,000 each. Aucklanders had taken about $900,000 of the company following a "free beer for investors" offer last year.
The brewery has raised its profile with a number of sponsorships, including the Hokitika Wildfoods Festival.
Sweeney said the West Coast Bar and Grill was due to open in Christchurch in September after a $1.5 million fit-out on the leased premises.
