The Dutch multinational bought a minority stake in Beavertown in 2018, and the £40 million was used to finance the expansion, the structure of a new brewery in Enfield, London.
Since then, Heineken’s large portfolio has helped the craft brewer’s sales nearly triple, from £12. 7 million in 2018 to £35 million in 2020, the last year before sales were hit by the Covid-19 pandemic.
Beavertown’s expansion was supported through its increased production capacity and a partnership with Tottenham Hotspur Football Club, adding an on-site brewery that serves more than 60,000 people at each game.
Heineken said Wednesday it has now bought the remaining 49 percent stake in Logan Plant, the son of Led Zeppelin leader Robert, as part of a deal that adds Beavertown’s call to a long list of craft brewers to challenge big brewing companies, to be bought.
Notable acquisitions in the sector come with the sale of Camden Brewery to Budweiser owner AB InBev, SABMiller’s acquisition of Meantime, Carlsberg’s acquisition of London Fields and Heineken’s acquisition of a stake in Brixton Brewery.
The spate of for-profit acquisitions has raised questions about the term craft brewer, a label that some in the industry consider requires independence of ownership through a giant company.
Beavertown said it’s possible 50 jobs will be created as a result of the acquisition. It did reveal the price, but its expansion from Heineken’s initial £40 million investment indicates that Plant’s stake has likely sold for tens of millions of pounds.
Plant, who will step down as a lead executive to act as an advisor, said: “Beavertown in my kitchen 10 years ago: from brewing beer in a pot of rice to being one of the most successful BRITISH brewers in recent years, employing more than 160 friends and brewing 360,000 hectolitres of beer.
“His good fortune is something he might never have predicted at the time, and I’m incredibly proud that we’ve reached an agreement with Heineken, which is the next herbal step for Beavertown, its brands and, most importantly, its employees. “
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