No wallflower
Switzerland’s major brewer, the Feldschlösschen-Hürlimann Holding, has announced plans to get out of brewing before the end of the year in an effort to focus on its more profitable real estate business. The president Robert A. Jeker has been quoted saying that although the brewing business was profitable, it did not generate enough profit to finance restructuring measures which would be necessary to become more competitive and to regain market share. Over the past ten years, beer consumption in Switzerland has declined 17% to 58 litres per capita.
Interestingly, last year only, the board of Feldschlösschen-Hürlimann had intended to sell the real estate side of the business. On 22 May at the annual meeting the shareholders gave their consent to the sale of the beverage business..
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