DLA Piper advises Heineken on a significant minority investment in SERVED Drinks
DLA Piper has advised Heineken UK on the acquisition of a significant minority stake in SERVED, an award-winning ready-to-drink cocktail and Seltzer brand.
Created by brothers, Dean and Ryan Ginsberg, and co-owned by musician Ellie Goulding in 2020, SERVED is one of the UK’s fastest growing ‘ready to drink’ (RTD) brands, worth an estimated GBP866 million in 2022 according to Mintel,1 a global market research firm.
Heineken’s investment, which is its first outside of the beer and cider sector in the UK, will support SERVED’s next stage of growth, allowing the founders to continue building the brand and establish its premium positioning. The acquisition of a minority stake is a strategic transaction for Heineken UK and a part of its ‘beyond beer and cider’ strategy, which aims to diversify its portfolio.
A team from DLA Piper’s London office worked on the transaction and was led by Chris Arnold, partner in the firm’s Corporate practice. He was supported by Harry Eastgate, a London-based associate from the firm’s Corporate practice.
Chris Arnold commented: “The acquisition of this significant minority stake in SERVED is a key part of Heineken UK’s objective to diversity their product portfolio into the ready to drink market and is its first investment outside of the beer and cider sector.”
“We are pleased to have been able to build on our existing relationship with Heineken UK. The successful completion of this transaction builds on our previous work of advising them on their initial investments in, and subsequent acquisitions of, Brixton Brewery and Beavertown Brewery.”
1Mintel – White Spirits & RTDs, UK 2023 off-trade