GERMANY: InBev to sell Wolters subsidiary
InBev has decided to sell German subsidiary Hofbrauhaus Wolters as it switches focus to its stable of bigger brands in Germany.
The Belgian brewing giant, which owns German brands including Beck's, Diebels and Löwenbräu, is to sell its 90% stake in Wolters to a management consortium.
InBev will receive EUR8.3m (US$10.7m) from Akquisitions-GmbH, a vehicle formed by four Wolters executives, for the brewer's assets and liabilities. However, the site on which the Wolters brewery is located will be sold to the northern German city of Braunschweig and rented back to the consortium.
"Wolters is too small for our brewing network in Germany and we want to focus on our bigger brands," an InBev Germany spokesman told just-drinks today (23 May). "Our bigger brands are very popular and successful here in Germany. It's a case of deciding whether to strengthen our strong brands or strengthen the weak - it's better to invest in the bigger brands."
The sale means that InBev will own six breweries in Germany with a combined annual capacity of 12 hectolitres.
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