HELSINKI, FINLAND: Olvi Plc confirms acquisition of Danish brewing company Bryggeriet Vestfyen. The acquisition will be completed according to the previously announced schedule.
On May 12, 2021, Olvi plc announced a conditional acquisition agreement in a stock exchange release. The main condition for the completion of the acquisition was that Olvi Plc would be able to increase its holding to 90 percent. The acquisition is confirmed with a 96.8 percent holding. Bryggeriet Vestfyen A/S is part of Olvi Group starting from 1 September 2021.
Bryggeriet Vestfyen consists of a brewery producing beer and soft drinks in Assens, as well as the Indslev microbrewery located in Norre Aaby. Bryggeriet Vestfyen was established in 1885. The company employs 100 people. Vestfyen’s sales volume was 65.2 million litres, net sales 24.6 million euro and gross margin (EBITDA) 952,000 euro in 2020.