Operations at German brewer Eichbaum are set to continue, with the group having secured capital from an unnamed investor.

In a press release, the Mannheim-based business said last week a "continuation plan" had been approved by its creditors, "after a very challenging period for all involved".

As part of the plan, Eichbaum said an investor will acquire the company brand, the brewery site and production facilities as part of "an asset deal".

Eichbaum filed for "self-administration" in October.

In December, the group then commissioned management consultancy Roland Berger to gauge external interest in the business.

While Eichbaum said today (30 March) it would not provide anymore information beyond what was shared in its release, regional news outlet Die Rheinpfalz has suggested the Pirmasens-based Park & Bellheimer brewery is an investor.

Late last week, the regional broadcaster Südwestrundfunk also reported that two investors will help to continue operations at Eichbaum.

"We can now look to the future again. Our focus is now on regaining our economic strength, modernising our long-established company with its more than 340-year history, and ensuring a stable future for the brand and the business," managing directors Uwe Aichele and Frank Reifel said.

Following the creditors' approval, Eichbaum will start implementing its so-called continuation plan, which "includes structural adjustments, operational realignments, and the consolidation of production and sales processes".

"A key component of the restructuring is an adjustment in personnel," the company added, noting a reduction in its workforce had been announced "several weeks ago" with the goal of ensuring "long-term competitiveness".

In a separate statement, Hakan Ulucay, regional chairman of local trade union NGG said a third of jobs at the brewery were being kept, which equates to around 100 roles.

“It’s good that a decision has been made in favour of the long-established plant in Mannheim," he said. "Now it’s about ensuring the continued existence of the remaining employees and allowing them to build on secure jobs again. There needs to be a viable future plan for Eichbaum in Mannheim.”

“The planned reduction of around two-thirds of the jobs is a severe blow to the workforce,” said Stephanie Albicker, union secretary in the NGG region of Mannheim-Heidelberg. “We will ensure that the job cuts are implemented in a socially responsible manner, because behind every dismissal are individual fates, people and their families, entire livelihoods.”