Heineken has purchased full ownership of Beavertown, making the north London business the latest craft brewery to be swallowed by a global beverages behemoth.
The Dutch brewer, which also owns Amstel and Birra Moretti, bought a 49% interest in Beavertown for £40 million in 2018.
Since it first invested in Beavertown, Heineken has helped pump capital into the company to assist its sales skyrocket, until growth was impacted by the toll of the pandemic.
Heineken stated on Wednesday that it had now bought the remaining shares of the company, which was created by Logan Plant, the son of Led Zeppelin founder Robert Plant.
Logan Plant will stand down as chief executive and take on a new advisory role as part of the agreement, which was finalised for an undisclosed amount.
In his new role as managing director of Beavertown, Jochen Van Esch will assume control of the company.
Mr. Plant is quoted as saying, “The culture of Beavertown is extremely important, including our one-of-a-kind creative expression in our designers, our drive to ferment the very best tasting beers, and the high regard at the very point in time that people order a pint, and this is something that will continue.”
“Heineken UK is a partner that not only provides us with assistance, advice, and commitment, but also the space to thrive as a company as a whole.”
It all started with a rice pan ten years ago, and without them, I never would have been able to realize my ambition of having a brewing that is known all over the world.
According to Heineken, the company believes that the new ownership structure will enable the brand to “substantially grow,” which may result in the creation of an additional fifty jobs.
“This is a really good step, and it continues on a collaboration that will see Beavertown continue to thrive and succeed while maintaining devoted to its independent innovation,” said Boudewijn Haarsma, managing director at Heineken UK.
“Heineken will completely support Beavertown’s brand position, incomparable inventiveness, and significant development potential,” and the company has stated that it will do so in a way that does not compromise Beavertown’s one-of-a-kind approach to beer.