BELGIUM: Duvel Moortgat takes over Liefmans' production - for now

By | 21 February 2008

Duvel Moortgat has been granted temporary production rights at its bankrupt peer Liefmans Breweries in Belgium.

The company confirmed yesterday (20 February) that Liefmans' receivers have permitted it to utilise production on a temporary basis, on condition that Duvel prepare an offer to buy all or part of Liefmans' operations. Duvel has subsequently tabled an offer for what it called "a substantial part" of Liefmans' activities.

Offers have also been made by other interested parties, however, Duvel added, without detailing who had made the alternative bids.

Liefmans was declared bankrupt in December. Earlier this month, the brewer's receivers were granted the right to farm out Liefman's production capabilities on a temporary basis.

No-one was immediately available at Duvel to give further details when contacted by just-drinks today.

In September last year, Duvel posted a 17.8% lift in operating profit for the first half of 2007. Profit reached EUR8.6m (US$11.8m) for the period, with sales rising by 20.6% to EUR42.6m.

Sectors: Beer & cider

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BELGIUM: Duvel Moortgat takes over Liefmans' production - for now

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