Change in shareholder structure at GlobalMalt Polska

On 2 September 2014, the Hamburg based GlobalMalt Group announced the complete acquisition of GlobalMalt Polska, Bydgoszcz, by Tivoli Malz GmbH. The acquisition was completed in order to continue the further development of the Group. After the acquisition of the minority stake of 40% last week which Polskie Mlyny had been holding since 2008 Tivoli Malz GmbH (Tivoli) is now the sole shareholder of its Polish subsidiary GlobalMalt Polska Sp. Z o.o.

Since 2008 both shareholders had contributed to the successful development of GlobalMalt Polska. According to the company, the capacity expansion in 2010 had been a major milestone besides intensifying cooperations with farmers on malting barley supply and the realization of other cost efficiency projects.

This is the second time in 3 years that Tivoli was able to increase its stake in the company. Prior to this Tivoli acquired the stake previously held by a JV‐partner, with whom Tivoli had founded GlobalMalt and GlobalMalt Polska at the beginning of the millennium. GlobalMalt-Group consists of the two malting plants GlobalMalt-Hamburg/Tivoli Malz GmbH, GlobalMalt Polska, Bydgoszcz, and the sales and marketing platform GlobalMalt GmbH & Co. KG, Hamburg. No immediate changes in management will result from the transaction. The malting plants in Hamburg, Germany and Bydgoszcz/Poland, with a combined annual production capacity of about 190,000 mt, supply German and Polish breweries, but also export an increasing share of its Hamburg production to international customers, mainly via container shipping.