Locher brewery wants to reorganize Chopfab – on condition
Published: Sunday, Feb 25th 2024, 06:30
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Appenzeller Brauerei Locher is demanding a haircut before it can make a capital injection into the financially troubled Winterthur brewery Chopfab Boxer. Creditors would therefore have to waive part of their claims.
"For us, it's not about being able to have the stake at a bargain price," said Aurèle Meyer, Managing Director of Locher Brewery, in an interview with the SonntagsZeitung newspaper. "There are still enough legacy issues that will cost a lot of money, and the company also needs to be made fit for the future again. If the haircut is successful, we are prepared to restructure the company together with other shareholders."
The "extent of the financial problems" came as a surprise, Meyer continued. The situation is still difficult. "Important negotiations are still ongoing with an unclear outcome. We'll know more at the end of next week."
No merger intended
The Locher brewery, which brews "Quöllfrisch", for example, is not seeking a merger with Chopfab Boxer, said Meyer. A possible investment in the Winterthur brewery is also not a sign that Appenzeller is looking to expand. "We can continue to live profitably without expansion. But this request was made to us, so we are looking at it."
Last week, the media reported on the financial difficulties at Chopfab Boxer. The Winterthur-based company then told the news agency AWP that it was confident that it would soon be able to restructure. "We have been in talks with the Locher brewery for almost three months and expect to conclude the talks in the next two to three weeks after the negotiations with the creditors," explained the management.
If the restructuring succeeds, Chopfab Boxer would become the sixth-largest brewery and join forces with Switzerland's number three. According to estimates by the "Handelszeitung" newspaper, the two together could catch up with or even overtake the second-largest provider in Switzerland, Heineken with its Calanda and Eichhof brands.
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