Beavertown sells minority stake to Heineken
Heineken has confirmed it has taken a minority stake in London’s Beavertown Brewery to tap into the popularity of craft beers.
The Dutch company’s investment gives Beavertown the £40m funding injection needed to increase its output, the craft brewer said.
The investment will help the North London brewer to build a larger brewing facility called Beaverworld, which will create 150 new jobs, and is scheduled to open in autumn 2019. The new 125,000sq ft site will have a total on-site capacity of 450,000hl.
The deal comes just weeks after Beavertown announced it was to start selling its beers in Waitrose, its first move into mainstream grocery retail.
Beavertown has popular beers such as Gamma Ray, Lupuloid and Neck Oil, which follow the style of hop-driven IPAs from the US.
In a statement Beavertown had said it would only align itself with “a minority investor who was clear it would not be involved with the management of the brewery. It was also critical that any partner understands and respects our family ethos and culture.”
The brewery’s founder, Logan Plant, and his wife will remain majority shareholders in the business.
Plant said: “Beavertown will be the same as we always were, and we will continue to forge our own path together as Team Beaver. We retain the freedom to do our own thing. The relationships with our accounts, distributors, suppliers and brewing family and friends stays exactly the same. Who will work with and how we work with them stays exactly the same.
“I can’t stress enough how imperative this has been to us throughout the process. Heineken do not want us to conform or change. They love what we do and want us to do more of it. That support gives us the opportunity to maximise what we do best and support our partners and team along the way to achieve and grow together. The only change will be the building of Beaverworld, hopefully with completion and beer flowing by late 2019.”