Double Dutch sells stake to Heineken family
The family behind beer giant Heineken has acquired a minority stake in mixer producer Double Dutch Drinks.
The Heineken family has purchased a stake worth nearly 10% in the tonic water and mixer company, which was founded in 2015 by Netherlands-born twins Raissa and Joyce de Haas.
The deal will see Michel de Carvalho, a major shareholder of Heineken, join Double Dutch’s supervisory board. His wife, Charlene de Carvalho-Heineken, owns a 25% controlling interest in Heineken, the world’s second-largest brewer.
Michel de Carvalho will bring extensive experience of entering markets and new product development to Double Dutch, the firms believe. He will also use his global network to help Double Dutch grow internationally.
“This is our first family venture into tonics and Double Dutch is an exciting brand with two driven, ambitious young Dutch women entrepreneurs behind it,” said Michel de Carvalho. “No longer a start-up brand, it has captured an 8% market share in the UK which is a testament to the founders’ hard work and tenacity.
“I am optimistic, despite the challenges that the current pandemic presents, that Double Dutch will continue to grow exponentially as it has done over the last three years. I see the growth in premium tonics continuing, with the demand for luxury soft drinks, healthier low-sugar alternatives and unique mixers for exclusive variants of gin and vodka increasing, and Double Dutch fulfils all of those.”
Double Dutch sells more than a million bottles a month in 26 countries. The range is stocked in UK supermarket Waitrose and online retailers Ocado and Amazon.
Raissa de Haas said: “We are delighted to have the Heineken family on board and it’s an honour that they recognise the potential of our business. As well as being hugely exciting commercially, the relationship is a perfect cultural fit – both businesses are Dutch, family-owned and female-driven – we couldn’t be happier.”
The mixer producer has a number of backers including Lord Mervyn Davies, who is also Double Dutch’s chairman and a Diageo board member.
Last year, the Double Dutch founders joined a number of leading young European entrepreneurs in the Forbes 30 Under 30 list.