Dutch beer giant Heineken has made an offer for the beverage division of Swiss holding Eichhof, which includes the country's last major independent brewer.
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Heineken would pay SFr278.5 million ($275.5 million) and take on SFr11.5 million in debt. Eichhof’s board has recommended shareholders approve the deal, which puts a 45 per cent premium on the division’s estimated value.
If the deal is completed in the third quarter as planned, the Dutch brewer will consolidate its number two position on the Swiss drinks market behind Denmark’s Carlsberg, owner of the Feldschlösschen group. No job cuts are planned.
Besides selling off its main source of revenue, Lucerne-based Eichhof plans to spin off its Datacolor colour measuring division and sell off its property holdings.
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