1
CALAN DA
BRAU
Heineken acquires interests
in Switzerland and Poland
With participations in Switzerland and Poland,
Ileineken shows that its expansion plans are not
aimed only at Asia. These participations are
consistent with Heineken's strategy to huild up a
dominant position in its home market (Europe).
In mid-December 1993, Ileineken
announced that it had acquired
52.3% of the voting shares in the
Swiss brewing company Haldengut,
which controls, directly and through
Calanda Brau, the second largest
brewing group, Calanda Haldengut.
In addition to beer, Haldengut also
has interests in mineral water and
soft drinks.
Calanda Haldengut, which was
created by merging Haldengut and
Calanda in 1991, has secured a 12%
market share in the Swiss beer mar
ket with the local brands Calanda and
Haldengut. The brewery, in which
Heineken took a 10% stake in 1987,
has in recent years distributed
Heineken beer brewed in the Nether
lands, in the German-speaking part of
Switzerland. With its market share of
25%, Heineken is market leader in
the import segment, which accounts
for 4% of the total beer market.
OfTer
After the completion of the due
diligence investigation (which deter
mines the value of the company), the
price per share for the 52.5% block of
voting shares was set at 1,022 Swiss
francs. To acquire these shares,
Heineken had to invest a total of 40
million Dutch guilders.
At the end of February 1994,
Heineken made an offer to Calanda
llaldengut's minority shareholders.
This had been the intention all along.
But the bid could not be made until
the results of the diligence investi
gation were known. By making this
offer, the minority shareholders were
given the choice between continued
participation in the company or sell
ing their shares at a good price.
In April it was announced that, as
a result of the public offer, Heineken
had increased its shareholding in
Calanda Haldengut to 93%. The total
investment for Heineken amounts to
some 125 million guilders.
The Calanda brewery in Switzerland.
THE WORLD OF HEINEKEN
