Heineken buys minority stake in UK energy-drink firm Tenzing

Heineken has continued its M&A activity outside beer with the purchase of a stake in UK energy-drinks business Tenzing.

In a joint statement issued today (29 April), the companies said the Dutch beer behemoth had acquired a minority shareholding in Tenzing. Financial terms were not disclosed.

Tenzing was set up in 2016 by former Red Bull executive Huib Van Bockel. The company had been seeking for investment and Van Bockel said the business had “looked for a partner who could help us scale while staying true to who we are”.

Van Bockel added: “We had interest from several global players but chose Heineken because they share what matters most: a belief in craft, natural ingredients, and building brands around community. They’re a family business that backs bold ideas and challenges the status quo. We’ll learn from them – but it’s still that same team, running Tenzing independently.”

Tenzing markets its energy drinks in the UK, the Netherlands, Switzerland and Australia.

Heineken has been building its interests outside beer through the acquisition of stakes in fledgling firms.

Last year, the Amstel brewer bought a minority stake in Dutch ready-to-drink brand Stëlz for an undisclosed sum.

In 2023, Heineken acquired a minority stake in Served, the UK ready-to-drink brand co-founded by pop star Ellie Goulding. Served sells a namesake range of hard seltzers aimed at consumers seeking “a modern, health-conscious, social lifestyle”.

Boudewijn Haarsma, the MD of Heineken’s business in the UK, said: “This is an incredibly exciting step for us. Next to developing and stretching the beer and cider categories, which remain core to us, we are keen to selectively invest in growth markets beyond these. It is Heineken UK’s first investment into the rapidly growing energy drinks market, and we look forward to sharing valuable lessons and insights, as we help grow the Tenzing brand together.”