Royal Swinkels Family Brewers, the Dutch brewery that produces Bavaria, Palm and Rodenbach, has acquired a 40 % minority share in the Georgian brewery Argo.
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Even though the European beer market continues to struggle, Dutch brewery groups Heineken and Bavaria have published growing turnovers. Bavaria set a record turnover, Heineken raised its turnover 4.3 % in the past quarter.
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Bavaria, which acquired Palm Belgian Craft Brewers a year ago, will invest 20 million euro into the modernization of its Steenhuffel-based brewery. The Dutch company did similarly, with 2.3 million euro, for its affiliate brand Rodenbach in Roulers.
Dutch brewery Bavaria has already reaped the rewards from acquiring its Belgian competitor Palm: turnover spiked and despite further investments, profit also grew.
Dutch Brewery Bavaria has acquired American Latis Imports, specialized in Belgian craft beers like the Palm and Rodenbach beers of the Palm Breweries which Bavaria bought in May.
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.