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Grüneberg produces a wide range of Berentzen soft drinks, such as Kräuterbraut and Mio Mio, and employs around 70 people.
Berentzen that the customer will bottle products with the Mio Mio logo, including soft drink and mate products, in addition to its own products as Berentzen’s “contracted filling partner”.
The sale is expected to generate a one-off special effect of approximately €4. 9 million ($5. 3 million) on the group’s earnings in fiscal 2024. However, the company expects long-term effects on earnings. continuous group payments of up to 1 euro. millions consistent with the year.
A Berentzen spokesperson told Just Drinks that its “main goal is to protect the construction site and protect jobs” at the Grüneberg plant.
“When we presented our new Building Berentzen 2028 group strategy, we already felt pressured to put all our structures and processes to the test to increase efficiency, avoid unprofitable activities and even more so in our strategic areas,” said Oliver, CEO. Schwegmann said in a statement.
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“The Grüneberg is a burden on the entire business organization, whether in terms of profits or liquidity, especially since the large increase in prices due to the war in Ukraine.
“Maintaining this location is not an option for us from an economic and strategic point of view. Despite this, our number one goal remains to be able to ensure the preservation of the site and jobs. We are very happy to be in complex negotiations with a strategic client lately with the aim of resuming advertising activities.
Berentzen, which owns brands such as Puschkin vodka, Tres País rum and Strothmann Original brandy, announced the closing of the sale along with the initial figures for the results of the first part of 2024.
Revenue has increased from €89 million in the first part of 2023 to €88. 1 million this year. On the other hand, consolidated EBIT increased by 55% to 5. 1 million euros and EBITDA jumped from 7. 3 million euros to 9. 4 million euros.
The German organization also updated its forecasts for the full year, expecting an operating profit of between nine and 11 million euros. Previously, Berentzen had predicted a diversity of between 8 and 10 million euros.
EBITDA is expected to be between €18 million and €20 million, having forecast a diversity of €17. 2 million to €19. 2 million in the past.
At the same time, the outlook for total revenue has been reduced from €190 million to €200 million to between €185 million and €195 million.
Berentzen plans to present its full figures for the first part of 2024 on August 14.
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