The Led Zeppelin singer’s son makes millions when Heineken buys his Beavertown craft brewery
The son of Led Zeppelin singer Robert Plant got a windfall from Heineken in the tens of millions.
The Dutch brewing giant paid what is believed to be more than £40m to buy the remaining stake in Beavertown, which was founded by Plant’s son Logan.
Beavertown, which produces beers such as Gamma Ray and Neck Oil, was founded by Logan in Tottenham in 2011.
Profit: Heineken paid what is believed to be more than £40million to acquire the remaining shares in Beavertown and set up Logan Plant (pictured with father Robert)
Logan landed a record payday when Heineken bought a minority stake in the trendy craft brewer for £40million in 2018.
He remained managing director and majority owner of the company.
And the brewer bought the rest of the company yesterday for an undisclosed sum. Known for cans with cartoon designs, the popularity of the beers has increased since Heineken initially invested.
Revenue grew from £12.7m in 2018 to £26.6m in 2021, according to Companies House filings. Plant, 43, will step down as chief executive and take on an advisory role.
Jochen van Esch, Head of Craft Development at Heineken, takes over the management of Beavertown.
Plant said: “Beavertown started in my kitchen ten years ago – from brewing in a rice pan to one of the most successful British breweries in recent years, employing over 160 people and brewing 360,000 hectolitres of beer.”
Beavertown is one of a series of craft breweries bought up by foreign beverage giants over the past decade.
Others include Camden Town Brewery, which was bought by ABInBev, the world’s largest beverage maker, and London Fields, now owned by Carlsberg.