Finding a brewery to buy after the big players had taken the obvious ones

01 · Context

A European brewer wanted to grow through acquisition after the largest players had bought the most obvious targets.

It was looking for a brewery or a brand with real character in a key market: developed but not yet at full potential, and able to add brand equity, portfolio and distribution.

02 · Key conclusion

Family ownership, debt and sale processes already under way ruled out most candidates. Only direct, discreet contact with the owners could show who was genuinely open to a deal.

03 · Actions

From universe to owners in four steps.

1. 1 week

   Set the profile of the ideal target in a strategic focus workshop.

2. 5–7 weeks

   Screen the universe through expert interviews, industry forums and secondary sources.

3. 2–3 weeks

   Build the shortlist and profile each owner.

4. Owner contact

   Contact the owners discreetly, without revealing the client’s name.

04 · Transformation

From more than 3,300 breweries to four willing sellers.

More than 3,300 breweries were filtered to a long list of 236 and a shortlist of 22. Seventeen owners were contacted, and four were open to a sale.

05 · Result

One target reached a formal bid.

The client made an offer for the strongest candidate. A larger player outbid it, which confirmed the quality of the target, and the screening left the client with a clear map of the remaining options in each market.