The Dutch multinational bought a minority stake in Beavertown in 2018, with the £40m proceeds used to fund expansion, including the construction of a new brewery in Enfield, London. Heineken’s deep pockets have since helped the craft brewer’s sales almost triple from £12.7m in 2018 to £35m in 2020, the last year before sales were affected by the Covid-19 pandemic. Beavertown’s growth has been supported by its increased production capacity and partnership with Tottenham Hotspur Football Club, including a brewery serving more than 60,000 people at every match. Heineken said Wednesday it has bought the remaining 49 percent stake from Logan Plant, son of Led Zeppelin singer Robert, in a deal that adds Beavertown’s name to a long list of craft brewers that have challenged major beer companies. to be acquired. Notable acquisitions in the sector include the sale of Camden Brewery to Budweiser owner AB InBev, SABMiller’s purchase of Meantime, Carlsberg’s acquisition of London Fields and Heineken’s acquisition of a stake in Brixton Brewery. The flood of money-making acquisitions has raised questions about the meaning of the term brewery, a label that some in the industry see as requiring independence from ownership by a large company. Beavertown said 50 jobs could be created as a result of the acquisition. It did not disclose the price, but its growth from Heineken’s initial £40m investment suggests Plant’s stake is likely to have been sold for tens of millions of pounds. Plant, who will step down as chief executive to act as a consultant, said: “Beavertown started in my kitchen 10 years ago: from brewing in a rice pan to one of Britain’s most successful breweries in recent years, employing over 160 people and brewing 360,000 hectoliters of beer. Subscribe to Business Today Get ready for the business day – we’ll point you to all the business news and analysis you need every morning Privacy Notice: Newsletters may contain information about charities, online advertising and content sponsored by external parties. For more information, see our Privacy Policy. We use Google reCaptcha to protect our website and Google’s Privacy Policy and Terms of Service apply. “Its success is something I could never have predicted at the time, and I am extremely proud that we agreed to the deal with Heineken, which is the natural next step for Beavertown, its brands and, most importantly, its people.”
