European beer majors Heineken and Duvel Moortgat are reportedly interested in buying Belgian brewer Haacht.
A report from the local business news outlet De Tijd this week said more than five parties are contenders for Haacht, the brewer of brands such as Tongerlo, Primus and Charles Quint.
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The publication said the sale of Haacht was initiated a few weeks ago and it had learnt “from multiple sources” that Heineken and Duvel Moortgat were candidates for a potential purchase.
Approached by Just Drinks on the De Tijd report, Heineken said: “We do not comment on rumours in the market.”
Duvel Moortgat also declined to comment on the report.
De Tijd also said potential buyers include a consortia of brewers and real estate specialists, as well as investment funds.
Haacht told Just Drinks the brewery was not being sold but that it was “exploring the strategic options at the moment”.
The group said it could look into options such as “a merger or do acquisitions or sales”, it said.
When asked if the company could confirm whether Heineken or Duvel Moortgat were showing interest, Haacht said: “We’re talking with a lot of different parties about a lot of different strategic options.”
Co.Br.Ha, Haacht’s paretn company, announced its intention to assess these options in January when it revealed its Horizon 2030 strategy. The move followed the group appointing Nils van Dam as its CEO last year.
Those options, it then said, included “strategic partnerships, joint ventures, a merger, a sale, and/or acquisitions”. The brewery hired PwC to help it assess “all strategic avenues”.
A statement at the time said under Horizon 2030, “all strategic options for a sustainably profitable future will be evaluated in the company’s best interest”.
In June, a statement from Haacht also said it could choose to continue to operate independently.
In that same statement, the company said: “It comes as no surprise to us that the exploration of these strategic options is giving rise to rumours.
“Our long-term vision is to become and remain a financially sound, forward-looking brewery. To achieve this successfully and with a customer-centric approach, we are now focusing on the continued successful implementation of the Horizon 2030 strategic transformation plan.”
Under Horizon 2030, Haacht is aiming to achieve a 20% “recurring” EBITDA margin in four years’ time. This includes capital gains from Haacht’s real estate portfolio.
In 2025, the business achieved €10.2m ($11.7m) in recurring EBITDA, an increase of €1.6m on the previous year. Revenue, however, was down 2.7% at €109m.
Co.Br.Ha said in January it had identified “a potential for gross savings of €17m, of which €14m has been incorporated into the plan”.
The company will look to achieve these savings through initiatives including increasing production capacity for non-alcoholic beer, a “rationalisation of the product range” as well as “stricter cost and purchasing management”.
