Dutch beer brand Heineken has taken a minority stake in Beavertown Brewery, which will provide a £40 million cash injection for the London-based craft brewer to build a new site.
Beavertown, founded by Logan Plant, the son of British rocker and Led Zeppelin frontman Robert Plant, announced the deal would enable the group to build a new brewery and visitor site.
Known for its brightly colored, cartoon-covered cans, Beavertown said it plans to build a 450,000 hectolitre facility in London that will increase its brewing capacity tenfold.
The new facility will create up to 150 new jobs.
It is the latest addition to the craft beer portfolio for Heineken, the world’s second-largest brewer, following other deals including with London’s Brixton Brewery and California’s Lagunitas.
A Heineken statement said: “We love what they’re doing and are excited to be able to help them do more. Our minority investment means they can make their dream of Beaverworld a reality.”
In a post on Beavertown’s website, Plant said: “In choosing Heineken, we’ve met the criteria we set ourselves and that were important to us as a company and a team – we retain full control of our destiny.
“I continue to be the founder, CEO and visionary leading the Beavertown charge and the people you deal with here at the brewery are and will continue to be the dedicated team Beaver. Heineken want to support us where we want it and otherwise leave us to get on doing what we do best. If there is anything that they can help with to improve our business across the board, they are there to assist, if we reach out.
“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 we 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.”