Heineken has acquired full control of Beavertown Brewery, four years after buying a minority holding in the London-based craft brewer.
Details around the latest transaction, including stake size and cost, were not disclosed by Heineken, which will replace founder & CEO Logan Plant with its craft development director, Jochen Van Esch. The Amsterdam-headquartered group takes ownership of a more sizable entity that it bought into in 2018: The initial purchase helped fund the GBP40m (then-US$50.5m) construction of a new brewery, London’s largest, in the north of the city.
Van Esch, who has been with Heineken since 2014, will take the newly-created job title of MD for Beavertown. Plant, the son of Led Zeppelin singer Robert, will remain on board in an advisory capacity.
Heineken said it expects today’s news to help Beavertown grow “significantly”.
Last month, the multinational brewer reported a near-25% rise in sales from the six months to the end of June, with its top-line rising almost 15% on the corresponding period in pre-pandemic 2019.
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