HEIO Heineken Holdings

By Adam Clark

Heineken Holding NV (HEIO.AE) has bought a minority stake in U.K. craft-beer brewery Beavertown for 40 million pounds ($52.5 million), the British company said Thursday.

According to a post on Beavertown's website, the investment will support the company's move to a new 125,000-square-foot site with a 450,000-hectoliter brewery in London that is set to open in late 2019. The move will create up to 150 new jobs. Beavertown currently operates a 45,000-hectoliter brewery.

Beavertown said it considered crowdfunding and private-equity options for the expansion, but found that the deals available were too short-term.

"Heineken do not want us to conform or change. They love what we do and want us to do more of it," said Beavertown's founder and chief executive, Logan Plant.

He said the deal is an "arm's length" minority deal and there will be no pressure on the company's brewing or business decisions.

Heineken, the world's second-largest brewer by sales, is not the first major player to invest in the U.K.'s craft-beer market. Camden Town Brewery was taken over by the world's largest brewer, Anheuser-Busch InBev SA (ABI.BT), in 2015, while Scottish craft-beer brand BrewDog sold a 22% stake to U.S. private-equity firm TSG Consumer Partners in 2017, raising GBP213 million.

Write to Adam Clark at adam.clark@dowjones.com; @AdamDowJones

(END) Dow Jones Newswires

June 21, 2018 06:44 ET (10:44 GMT)

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