Heineken secures stake in craft brewer Beavertown
The size of the Dutch beer giant’s stake has not been disclosed.
Heineken has snapped up a stake in London-based craft brewer Beavertown for £40 million, cash that will help build a new brewery.
Weekly Business Digest Newsletter
Dubbed Beaverworld, the new facility will create 150 new jobs and have enough capacity to get the firm’s beer on to “every street corner in the UK and beyond”.
The size of the Dutch beer giant’s stake has not been disclosed but founder Logan Plant said it was a “minority deal” and he will stay in “full control”.
Mr Plant, who will remain chief executive of Beavertown, added: “We spoke to many parties and groups throughout this last seven months. Crowdfunding, private equity and brewers.
“Crowdfunding for a £40 million project wasn’t a realistic option. Private equity would have created too much external pressure to hit the return on investment in a short period of time.”
Beavertown is behind beers such as Neck Oil, Gamma Ray and Lupuloid.
Heineken’s move is the latest in a string of acquisitions by drinks giants to tap into the popularity of craft beer.
Last year, in a bid to broaden its foothold in the craft market, Carlsberg snapped up Hackney’s London Fields Brewery.
AB InBev bought Camden Town Brewery in 2015.