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German consolidation continues
Radeberger acquires Stuttgarter Hofbräu; more moves expected
Dec 11, 2003 - Radeberger, the third largest brewer in Germany, has acquired a 50% stake in the Stuttgarter Hofbräu brewing group. Hofbräu said the deal was worth about $73 million.
The move comes shortly after Radeburger came up short on a bid for Brau & Brunnen. With the German beer market undergoing consolidation, the race continues to buy market share. Radeberger chief Ulrich Kallmeyer said he aimed to play an active role among future merger and acquisitions in the sector. After Dutch brewer Heineken formed a joint venture in 2001 with Bavarian firm Paulaner und Kulmbacher, Belgium's Interbrew became the market leader in September by taking control of Spaten. Danish group Carlsberg and German firm Bitburg are reportedly readying to buy Holsten. Stuttgarter Hofbräu is one of the leading brewers in the Baden-Württemberg region, with an 18% share of the market. On a national basis, its market share is around 7%. Radeburger owns some of the best-known German beer brands, such as Radeberger Pilsner, Schöfferhofer wheat, Clausthaler alcohol-free, DAB, Berliner Kindl, Henninger Radler and Selters mineral water. It also owns the Krusovice brewery in the Czech Republic.
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