Minority shareholders in Polish brewer Browar Lomza have reportedly criticised an agreement to sell the company to Danish brewer Royal Unibrew.

Investors in the Polish brewer believe the agreement with Royal Unibrew does not value Browar Lomza highly enough, according to reports in Poland today (5 March).

Last month, Royal Unibrew signed a deal to buy Browar Lomza for around DKK240m (US$42.2m). The minority investors say Browar Lomza is worth PLN130-150m (US$44-50m).

"In such conditions, completing the transaction would be detrimental to the company and its shareholders," Konrad Smok, from Poland's Individual Investors Association (SII), told local news agency PNB.

Officials at Royal Unibrew could not be reached for comment as just-drinks went to press.

Browar Lomza, which is based in the north-east of Poland, has an annual capacity of 750,000 hectolitres of beer and recorded sales of around 630,000 hectolitres last year.