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GERMANY: Food group to acquire Brau und Brunnen

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In the second major takeover in the German brewing sector in weeks, Dr Oetker, a family owned food company, has bid €360m (US$461.6m) for Brau und Brunnen, the country's fourth largest beer maker.

An €80 a share bid - a 7% premium on Thursday's closing price - follows an agreement by Dr Oetker to buy a 61.7% stake in the brewer from HVB, Germany's second-biggest bank, for €220m.

The acquisition is still contingent on Dr Oetker gaining a 75% stake and on antimonopoly approval.

Brau und Brunnen's brands include Jever and Schultheiss.

Speculation surrounding a sale has existed since last year, when HVB announced it was looking for a buyer. Dr Oetker's name was thrown into the ring after talks with US private equity firm One Equity Partners collapsed.

Last month Carlsberg announced it was making a bid for Germany's Holsten brewer, a move that would make it the fifth largest brewer in the country.


Sectors: Beer & cider

Companies: Carlsberg

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