#enterprise Heineken snaps up brewery founded by Led Zeppelin singer’s son
Led Zeppelin singer’s son makes tens of millions as Heineken snaps up his craft brewery Beavertown
The son of Led Zeppelin singer Robert Plant has scooped a windfall value tens of tens of millions from Heineken.
The Dutch brewing big paid a sum considered greater than £40million to snap up the remaining shares in Beavertown, founded by Plant’s son Logan.
Beavertown, which makes beers together with Gamma Ray and Neck Oil, was set up by Logan in Tottenham in 2011.
Win: Heineken paid a sum considered greater than £40m to snap up the remaining shares in Beavertown, founded Logan Plant (pictured with father Robert)
Logan landed a bumper payday when Heineken purchased a minority stake within the fashionable craft brewer in 2018 for £40million.
He stayed on because the chief government and majority proprietor of the enterprise.
And the brewer purchased the rest of the agency yesterday for an undisclosed sum. The recognition of the beers, identified for cans with cartoon designs, has elevated since Heineken initially invested.
Sales jumped from £12.7million in 2018 to £26.6million in 2021, in response to Companies House filings. Plant, 43, will step down as chief government and tackle an advisory position.
Heineken’s head of craft growth Jochen van Esch will take over as Beavertown’s managing director.
Plant mentioned: ‘Beavertown started in my kitchen ten years in the past – from brewing in a rice pan to one of the crucial profitable British brewers in recent times, using over 160 folks and brewing 360,000 hectolitres of beer.’
Beavertown is amongst quite a lot of craft brewers to be purchased out by overseas drinks giants previously decade.
Others embody Camden Town Brewery, purchased by ABInBev, the world’s largest drinks maker, in addition to London Fields, which is now owned by Carlsberg.