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Sazerac Bids for Berentzen Schnapps Maker
21 Sep
Summary
- Sazerac launched a takeover offer for Berentzen shares.
- The offer is for €5.55 per share, supported by Berentzen's board.
- Berentzen is expected to be delisted after the acquisition.
US spirits producer Sazerac initiated a takeover bid for all outstanding shares of German beverage company Berentzen on Monday. The offer values each Berentzen share at €5.55, a price that has garnered support from both the company's supervisory and executive boards. This move signifies Sazerac's strategic effort to broaden its reach beyond domestic markets by acquiring established brands.
Berentzen, known for its schnapps production, confirmed ongoing takeover discussions the previous Thursday. The company's stock closed at €4.53 per share on Friday, indicating the offer presents a significant premium. Sazerac anticipates finalizing the acquisition during the fourth quarter of this year, after which Berentzen is expected to be delisted from the stock exchange.
