Business | Heineken acquires Beavertown Brewery

The latest craft beer brewer to be acquired by a beverages giant is London-based Beavertown.

Heineken has agreed to purchase the remaining shares after purchasing a £40 million minority investment in Beavertown in 2018.

Logan Plant, the founder of Beavertown, will step down as CEO and be succeeded by Jochen Van Esch, a former Heineken executive.

Breweries like Camden Town and London Fields are among the other UK craft companies that have been acquired.

Led Zeppelin vocalist Robert Plant's son, Mr. Plant, claimed he started Beavertown in his kitchen 10 years ago by fermenting beer in a rice pan. More than 160 employees are now employed by the company.

The proceeds from the 2018 share sale were utilized by Beavertown to grow the company, which included constructing a new brewery in Enfield.

He declared that Beavertown's "desire to make the very best tasting beers," as well as its identity, will endure.

Before starting his own business, Mr. Plant was a musician himself. He told the BBC that the past ten years had been "immense."

Beavertown's distinctiveness comes from its "people power," he asserted, claiming that rather than leaving the company, he was "going back to my origins" and collaborating with the staff on new beers and "innovations."

He claimed to have received "a lot of support" and that his father is a "big fan" of the brewery and Led Zeppelin.

Mr. Plant claimed that his "obsession" with beer was the reason he founded the brewery. When he was 18 years old, his father, who "loves going to the pub," took him on a tour of neighborhood pubs in the Midlands. Later, when Mr. Plant was a touring musician, he kept a list of the beers he had tried.

He added that his father helped him start the brewery since it was more about emotional support than it was about financial support. He also said that his parents were the source of his "work ethic and dedication."

Twenty-year Heineken employee Mr. Van Esch will take over as the company's new managing director, and Mr. Plant will serve in an advising capacity.

Beavertown "will not witness a major change because the strategy is sound," according to Mr. Van Esch.

"The company is expanding, has a great workplace culture, and consumers adore the brews. I am optimistic about the future and we will support, invest in, and grow the business "said he.

Beavertown virtually tripled its sales from £12.7 million in 2018 to £35.2 million in the year ending March 31, 2020, after Heineken acquired its minority stake.

The company achieved this mostly by boosting production capacity, but it also launched a microbrewery in collaboration with the football team Tottenham Hotspur.

The acquisition fits into a trend of large beverage companies buying craft breweries.

The largest brewing company in the world, AB-Inbev, paid £85 million for the London-based Camden Town Brewery in 2015. In 2020, it finalized the acquisition of the US-based Craft Brew Alliance.

Despite closing the plant in 2021 and attempting to sell the company, Carlsberg purchased the London Fields Brewery in 2017.

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