HOLLAND: Heineken JV acquires German brewer
Heineken is to acquire a German brewery. The Dutch company announced today (5 October) that Brau Holding International AG - the joint venture between Heineken (49.9%) and Schoerghuber Corporate Group (50.1%) - has come to an agreement to acquire 100% of the shares of Fuerstliche Fuerstenbergische Brauerei KG.
The transaction is subject to regulatory approval.
In a statement, Jean Francois van Boxmeer, a member of Heineken's executive board, said: "This acquisition expands Brau Holding International's presence in southern Germany. It will deliver synergy gains through both cost reductions and central purchasing. Furthermore the Fuerstenberg brand fits well within Brau Holding International's portfolio of German premium brands."
As agreed by both parties the acquisition price will not be published, Heineken said. The deal will be partly financed by debt and partly from available cash resources.
The Fuerstliche Fuerstenbergische Brauerei KG is centrally located in Baden Wuerttemberg in the southern part of Germany. The company had a sales volume of 700,000 hectolitre in 2003 and operates one brewery in Donaueschingen with a production capacity of 1m hectolitre.
The brand portfolio includes the company's leading brand Fuerstenberg and the brands Riegeler, Baeren Pilsner and Qowaz, a cola-beer mix. The Fuerstenberg brand is also exported to Italy, France, Switzerland, UK and Spain.
Brau Holding now owns three German breweries, and its annual output will increase to 9.3m hectolitres of beer following the acquisition.
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