Heineken has taken full ownership of craft beer company Beavertown.
In 2018, the Dutch brewer, which owns Amstel and Birra Moretti, bought a 49% stake in Beavertown for £40 million.
Since the move, Heineken has helped fund the company into to help its sales surge, before growth was affected by Covid-19 pandemic.
Heineken revealed that it has now bought the remaining shares of the company, which was founded by Logan Plant, the son of Led Zeppelin frontman Robert Plant.
As a result, Plant will step down CEO and take a new advisory role as part of the deal, which was completed for an undisclosed fee.
Jochen Van Esch will take the helm as Beavertown’s new managing director.
“With Heineken UK we have a partner who provides support, advice and investment, and gives us the space to flourish,” Plant said.
“Without them, my dream of being a world-renowned brewery that began with that rice pan a decade ago, would have been impossible.”
According to Heineken the new structure will allow the company to “grow significantly” and could lead to the creation of 50 more jobs.
Heineken UK managing director Boudewijn Haarsma, managing director added: “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.”
