The UK division of Heineken has purchased an unspecified size minority stake in the Tenzing “natural” energy drinks brand.
The transaction, financial details of which were also not disclosed, has been secured on the basis of Tenzing retaining operational independence. Heineken UK will provide the brand with “limited distribution through its network into the convenience channel”.
Huib Van Bockel, who founded the 100% plant-based brand in 2016 after spending nine years with Red Bull, will continue in his current role as CEO.
“To take on the energy giants, we looked for a partner who could help us scale while staying true to who we are,” he said. “We had interest from several global players but chose Heineken because they share what matters most: a belief in craft, natural ingredients and building brands around community. They’re a family business that backs bold ideas and challenges the status quo.
“We’ll learn from them – but it’s still that same team, running Tenzing independently.”
Heineken UK MD Boudewijn Haarsma added: “Next to developing and stretching the beer and cider categories, which remain core to us, we are keen to selectively invest in growth markets beyond these. We’re proud to partner with a certified B-Corp company, one that has … a clear vision for the category and is totally committed to a product that is better for the consumer.
“It is Heineken UK’s first investment into the rapidly growing energy drinks market, and we look forward to sharing valuable lessons and insights, as we help grow the Tenzing brand together.”
In results from the first three months of this year, announced earlier this month, Heineken booked a flat sales performance thanks to a “high comparison base and … technical factors”.
