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Ireland | There is more to C&C’s troubles than just a few accounting errors. The US hedge fund Engine Capital is putting pressure on the Irish drinks group to put itself up for sale weeks after its CEO quit.
Belgium | Alain de Laet, CEO of Brasserie Huyghe, already hinted at a 7 percent decline in Belgian beer exports in 2023 at the Brewers Forum in Lille (26-30 May). But two weeks later, on 14 June, official data by the Belgian Brewers, an industry body, put the decline even higher, at 7.5 percent.
Nigeria | Diageo is pulling the plug on Nigeria and selling its stake in Guinness Nigeria, joining other multinationals who are exiting or reducing their exposure. The West African nation is facing its worst cost-of-living crisis in decades. The Singapore-based Tolaram Group agreed to buy Diageo’s 58 percent majority stake in stock market-listed Guinness Nigeria for USD 70 million, it was announced on 11 June.
Ireland | What is going on at Irish drinks group C&C, owner of Tennent’s beer and Magners cider? CEO Patrick McMahon stepped down with immediate effect on 7 June, after the company was forced to make retrospective charges totalling EUR 17 million (USD 18 million) to previously reported financial statements. These include a total underlying operating profit adjustment of EUR 5 million and an exceptional charge of EUR 12 million, related to “onerous apple contracts”.
Finland | The Finish parliament has further dismantled its alcohol monopoly: A vote, on 5 June, permits supermarkets to sell fermented alcoholic beverages with up to 8 percent ABV, up from the previous limit of 5.5 percent ABV. The amended law came into effect on 10 June.
Germany | Is this the way forward? Warsteiner seeks to expand its contract brewing business this year. It already brews the Polish beer brand Tyskie (Asahi) at its main plant in Warstein and hopes to add some more. Warsteiner which is privately owned by Haus Cramer Group, thus concedes that its brewery is at best utilising 30 percent of its capacity with its core brands.
France | It seems there are few things people like to complain about more passionately than the EU – as if Europe could be reduced to the shorthand “Brussels Bureaucracy”. In the EU, the parliament is an equal legislator together with the national governments, so that the major political currents on the continent are reflected there, not least the generational issue of tackling the climate crisis. The decision to hold the Brewers Forum together with the EBC Congress shortly before the EU parliamentary elections was therefore auspicious.
Germany | Hop firm BarthHaas estimates that the beer output of the world’s 40 largest breweries fell by 2.2 percent to around 1.62 billion hl. Still, they controlled a staggering 86 percent of global production. It is also striking how concentrated global beer production is: The top 3 brewers alone – AB-InBev, Heineken and China Resources Snow Breweries – account for more than half of the top 40’s output.
The Netherlands | It is a bit surprising that Heineken would buy a minority stake in the hard seltzer brand Stëlz, considering that these beverages have not exactly taken the European market by storm. This is not for the big firms’ lack of trying. During the pandemic, Coca-Cola launched Topo Chico and Heineken its own Pure Piraña, following what the brewer called “a successful trial” in Mexico and New Zealand.
Denmark | Hosted by the Danish Brewers Guild, the 29th Nordic Technical Meeting in Copenhagen (15-16 May) focused on a wide range of social and technical issues which will impact, one way of another, the brewing industry in Europe in the coming years.
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BRAUWELT on tour
Most Read
BRAUWELT on tour
