Privatbrauerei Bolten, based in Korschenbroich and claiming to be the world's oldest altbier brewery, has launched an M&A process to find a strategic partner. Supported by M&A advisors, shareholders Michael Hollmann (68) and Paul Bösken-Diebels intend to further develop the swing-top bottle specialist. The owners remain open to various structures, including a minority stake, a majority investment, or a complete takeover of the brewery, which produces around 70,000 hl of beer annually.
Hollmann justified the decision by pointing to the persistent structural challenges facing medium-sized breweries in Germany. He noted that greater economic strength is required to fund future investments and realize operational synergies more quickly. The announcement comes at a time when the Bolten brand is operationally stable, though recent financial metrics reveal that the brewery is not immune to broader industry pressures.
In 2024, Privatbrauerei Bolten recorded a net loss of around EUR 898,000. By the balance sheet date, the equity ratio had dropped to just 4.5 percent, while total liabilities accumulated to approximately EUR 23.3 million. In its management report, the company cited ongoing predatory competition, rising cost pressures, and a continuing shift in consumer demand toward non-alcoholic options and alternative beverages. The executive board described the 2024 financial performance as "unsatisfactory" and projected continued challenging economic conditions and increased liquidity demands for the following two years. Despite these headwinds, the brewery invested around EUR 2.2 million in 2024 into facility modernizations and a photovoltaic system.
The search for an investor takes place against a backdrop of severe contraction across the German brewing industry. According to figures from Destatis, national beer sales fell by 6.0 percent in 2025 to roughly 78 million hl, dropping below the 80 million hl threshold for the first time since recorded statistics began in 1993. The decline continued into the first half of 2026, with overall volumes down another 2.2 percent to 38.45 million hl. This market pressure has accelerated consolidation and restructuring across the country, as seen in the recent liquidation of Bergbräu (inside.beer, 2026-07-29) and the self-administration insolvency of Brauerei Westheim (inside.beer, 2026-07-27).
Privatbrauerei Bolten traces its roots back to 1266, giving it a centuries-old tradition in top-fermented altbier production. Hollmann acquired the company in 2005, and at the end of 2006, he brought on Bösken-Diebels—a former shareholder of the Diebels brewery, historically the market leader in the altbier segment—as co-owner. Given the prevailing industry tailwinds and strained financials, industry observers view the initiated transaction process as a necessary strategic move to secure the company's long-term survival.
