Heineken takes minority stake in UK’s Beavertown Brewery
Dutch brewer Heineken will take a minority stake in Beavertown Brewery to give the London-based craft beer maker the £40m it needs to build a new brewery and visitor site.
Beavertown, founded by Logan Plant, the son of British rocker and Led Zeppelin frontman Robert Plant, announced the deal on Thursday, ending weeks of speculation about the partnership.
It is the latest addition to the craft beer portfolio of the world’s second-largest brewer, following a string of deals including with London’s Brixton Brewery and California’s Lagunitas.
Beavertown, known for its brightly coloured, cartoon-covered cans with names including Gamma Ray American pale ale, said it planned to build a 450,000 hectolitre facility in London that would increase its brewing capacity tenfold. It will create up to 150 jobs.
Plant said the company had explored other financing options including crowdfunding and private equity, but dismissed them as unsuitable.
Heineken confirmed it was taking a minority stake in Beavertown, but declined to provide further financial details. It said the £40m was the cost of the brewery.
“We love what they’re doing and are excited to be able to help them do more,” Heineken said in a statement. “Our minority investment means they can make their dream of Beaverworld a reality.”
Click here to read more (Source: The Guardian)