Nordic Fortress moves southern wall
It did not really come as surprise when Carlsberg announced in January that it was to buy Germany’s second-largest brewing group Holsten for EUR1.1 billion. Having sold its Hannen brewery to the German discount beer producer Oettinger in July last year and their contract brewing agreement expiring this year (or so rumours claim), Carlsberg had manoeuvred itself into a situation where it was short of at least 700,000 hl of production volume in Germany for its Tuborg and Carlsberg brands. Hence it had to clinch a deal ... and soon. Just as well that Holsten had been on the market for some time. Carlsberg also made a voluntary public offer to buy all outstanding shares until the end of March. The offer is conditional upon a 75 percent acceptance rate.1 or EUR70.5 per hl..
Select offer and read on
6 print issues