Dutch brewing conglomerate, Heineken, has acquired a 45% stake in the German brewer, Karlsberg International Brand, in conjunction with its German partner, Schorghuber. Financial details were not disclosed but insiders and analysts have suggested the companies would have paid around €100m for the stake.

Observers have been suggesting that Heineken needed to assert itself in the global beer market having been outbid for three major acquisitions in the past 12 months. The company has slipped from number two to the number four position in the rankings of international beer groups during the past two years.

Heineken said it plans to integrate Karlsberg, which is thought to be the twelfth largest brewer in Germany, into its new Brau Holding International division, a joint venture with Schorghuber. Karlsberg generates annual sales in the region of €582m ($547m).