Dutch brewer Bavaria has acquired its Belgian competitor Palm for an undisclosed amount. At first, it will only buy a 60 % stake in the company, but over the next five years, it will expand that stake into the full 100 % of shares.
Complementary product range
"Palm has created a varied range of craft beers, complementary to our brands, which is why this collaboration fits our strategy to be an ultimate portfolio player. Palm has an important market share in the Netherlands and we feel it has potential to increase its international growth," Bavaria chairman Jan-Renier Swinkel explained the acquisition.
This deal gives Bavaria access to the Belgian retail and hospitality industry, while at the same time, Palm can use the Dutch brewer's international network. Together, they manufacture 6.5 million hectoliters of beer every year. Both companies also have a long tradition of beer brewing: Bavaria was founded in 1719 while Palm is even older, dating back to 1686.