Sazerac Launches €53.3 Million Offer for German Drinks Maker Berentzen

Sazerac, the privately held U.S. spirits company behind brands including Southern Comfort and Fireball, has launched a voluntary cash offer to acquire German beverage maker Berentzen for €5.55 per share, valuing the company at about €53.3 million and representing a roughly 68% premium to its unaffected share price. Berentzen’s executive and supervisory boards support the transaction and plan to recommend it to shareholders, subject to approval of the offer document by Germany’s BaFin and acceptance by more than 50% of shareholders. If completed, the deal is expected in the fourth quarter of 2026 and would likely lead to Berentzen’s delisting from the Frankfurt Stock Exchange. Sazerac says it intends to maintain Berentzen’s existing facilities and increase investment, using the German company’s brands, production capacity and European distribution network to expand across the region. The proposed takeover comes as Berentzen faces weak alcohol demand, declining revenue and profits, while Sazerac’s broader strategy has focused on acquiring recognizable but underperforming brands and strengthening them through greater marketing and distribution.