Heineken, the global beer giant, has acquired a minority stake in UK-based Beavertown for £40 million ($55 million).
The cash injection is said to be targeted at buiilding a new 125,000 sq ft plant that will allow Beavertown to increase its brewing capacity tenfold, up to a total of 450,000 hl. It is estimated the facility will create around 150 jobs while the current site in Tottenham will be used for brewing special releases and seasonal editions.
The company also announced its intentions to build a new attraction called Beaverworld, a “state of the art brewing facility that will represent the pinnacle of brewing and visitor experience in the UK, maybe even the world”.
In a statement, Beavertown CEO and founder Logan 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. 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”.
Source: Beavertown / Foodbev