Craft brewer Beavertown confirms stake sale to Heineken for £40m
Craft brewer Beavertown has sold a minority stake to Heineken, giving it a £40m cash injection to build its new brewery.
In a blogpost, the maker of Gamma Ray and Neck Oil laid out plans for a new facility called Beaverworld with 10 times the capacity of the current site in Tottenham Hale.
Founder and chief executive Logan Plant said his team had initially considered a private equity deal but found these investments too short-term.
Read more: Heineken is raising UK investment to record levels
He reassured drinkers that there would be no recipe changes as a result of Heineken's investment.
"Beavertown will be the same as we always were, and we will continue to forge our own path together as Team Beaver," he wrote. "We retain the freedom to do our own thing."
The new facility is expected to create 150 new jobs.
It is the latest London craft brewer to be the target of investment by a drinks giant. Last year London Fields Brewery was bought by Carlsberg, while AB InBev snapped up Camden Town Brewery in 2015 and sold Meantime to Asahi in 2016.
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