Heineken UK today announced assuming full ownership of Beavertown Brewery. Since 2018 the Dutch beer group owns a 49% minority stake in London’s largest brewery (inside.beer, 26.05.2018). As part of the deal, Heineken agreed to invested GBP 40 million (USD 53 million) to build a new state-of-the-art brewery with a capacity of half a million hectoliters in Enfield, North London, in the two years following the acquisition. (inside.beer, 26.8.2020)
The purchase amount for the remaining shares has not been disclosed.
Heineken expects that the new ownership structure will allow the brand to grow significantly and to create up to 50 new jobs. Beavertown is currently outperforming the market by more than three times, and twice that of its nearest competitor. (Source: MAT CGA/Nielsen to 21 May 2022)
According to a press statement, Beavertown will continue to be operated separately to Heineken UK with its own functional teams including sales, marketing, brewing and wider existing teams. As part of the agreement between the two companies, founder Logan Plant, son of Led Zeppelin’s lead singer Robert Plant, will step down as CEO and take on a new advisory role, with Heineken veteran Jochen Van Esch, taking on the new managing director role.
Jochen Van Esch has worked for Heineken for over 20 years, and has been at Heineken UK since 2014, when he began as Brewery Operations Director. Together with Logan Plant, he has created a unique partnership with Beavertown Brewery, a part of his role on the board. He says: “I’ve worked closely alongside Logan and the team for five years now, during which the new brewery has been built, we’ve opened the first Beavertown pub, and the brand has become one of the most popular super premium beers in the country.
“Beavertown’s journey will not see huge change because the strategy is right – the brand is in growth, it has a fantastic culture and work ethos and people love the beers. We will support, invest and grow the company, and I am incredibly excited about the future.”
“Beavertown began in my kitchen, ten years ago,” Logan Plant said. “From brewing in a rice pan to one of the most successful British brewers in recent years, employing over 160 people and brewing 360,000 hectolitres of beer. Its success is something I could never have predicted back then, and I am extremely proud that we have agreed the deal with Heineken UK which is the natural next step for Beavertown, its brands, and most importantly, its people.
“The culture of Beavertown is incredibly important – our unique creativity in our design and marketing, our drive to brew the very best tasting beers, and the passion for excellence at the moment people order a pint – and this is something that will continue. With Heineken UK, we have a partner who provides support, advice and investment, and gives us the space to flourish. Without them, my dream of being a world-renowned brewery that began with that rice pan a decade ago, would have been impossible. Jochen has worked closely with us all and I have absolute confidence that under his stewardship, the future of Beavertown is burning bright.”
Boudewijn Haarsma, Managing Director at Heineken UK says: “This is a hugely positive step, and builds on a partnership that will see Beavertown continue to expand and flourish, while remaining committed to its independent creativity. Heineken will fully support Beavertown’s brand position, inimitable creativity and huge growth potential, and will do so in a way that preserves its unique approach to beer.”