Heineken has acquired a £40m stake in UK-based craft brewer Beavertown Brewery.

The proceeds will be used by Beavertown to build a new 125,000ft2 brewery, which will have 450,000hl production capacity.

The new facility is expected to create 150 employment opportunities in the region.

Meanwhile, the company’s facility located in Tottenham Hale will be used to brew special releases and seasonal beers.

“If there is anything that they can help with to improve our business across the board, they are there to assist, if we reach out.”

Beavertown CEO and founder Logan Plant was quoted by foodbev.com as saying: “In choosing Heineken, we’ve met the criteria we set ourselves and that was important to us as a company and a team, we retain full control of our destiny.

“Heineken want to support us where we want it and otherwise leave us to get on doing what we do best. If there is anything that they can help with to improve our business across the board, they are there to assist, if we reach out.

Last year, Heineken purchased a stake in the UK-based brewery, and this latest investment will further enhance its hold in the company.

The deal is expected to expand Beavertown’s presence further across Heineken’s 2,900-strong UK pub network.

Beavertown Brewery manufactures Neck Oil and Gamma Ray beers.