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HEINEKEN IRELAND HAS put forward a proposal to take over sole control of an Irish drinks company behind beers such as Dutch Gold.
A spokesperson for Heineken Ireland confirmed that it has agreed terms to acquire remaining control over Comans Beverages Limited, of which it already holds 25% of shares.
Until now, Heineken has been the minority shareholder of the company, but it could soon have sole control over the venture if plans submitted to the Competition and Consumer Protection Commission are approved.
The Heineken spokesperson said: “This is consistent with the provisions of the agreement that established the JV [joint venture] in 2016 and would complete the phased purchase of this business.”
Comans Beverages supplies beers, wines, spirits and soft drinks to hospitality and retail in Ireland. Along with Dutch Gold, it distributes brands like Prazky, Druids cider and Karpackie.
It is majority owned by the Comans, with Geoffrey Coman currently holding 50% of the shares and Thomas Coman holding 25%, according to its latest annual return filed in July. Heineken Ireland Ltd owns the other 25% at the moment.
The company made a profit of €125,627 in the year to the end of 2019, according to its most recent set of accounts, down from €1.8 million the previous year.
In a note to the accounts, filed earlier this year, the directors said they expected the company to make a loss in the 2020 financial year due to the impact of Covid-19.
“2020 has been challenging for our staff, customers and our society as a whole,” the directors noted in the 2019 accounts.
“We acted decisively and with speed to reduce costs across our business”.
The drop, according to the accounts, relates to non-recurring costs associated with a redundancy scheme, which amounted to almost €1.8 million.
Over the course of the year, the company reduced its workforce from 232 in 2018 to 226 in 2019.
Comans Beverages has been contacted by The Journal for comment on the proposed acquisition.
Additional reporting by Ian Curran.
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Remember back in the day at a house party when you accidentally picked up a can that was being used as a ashtray and you only realized as you swallowed it ? That’s what Dutch gold tastes like to me .
Dutch gold is still a thing?
@Dave Thomas: If it’s not Dutch you’re payin’ too much!
6 Dutch for a fiver
@Ronan O Connor: 6 bottles of WATER
7.00 EURO THER IS SOMETHING VERY WRON IN THIS COUNTRY
@pat seery: I see what you did there
@pat seery: something very wrong if you’re paying that. 24 bottles of water for a fiver in most supermarkets
@pat seery: Jaysus what water are you buying in supermarkets?
@Local Ore: Peckham spring water
Dutch Gold great memories. You never spent too much when you drank the Dutch. I just hope they never stop making it, I still enjoy a few cans on special occasions.
@Raymond Barry: Dutch bleedin Gold on special occasions? … Jaysus man lol
@Charles Mander: of course, special days like when Anto gets released from the Joy or your cousin Chardonnay celebrates her 16th birthday and also finds out she’s pregnant with twins and they’re yours. All legit reasons to celebrate with cans of Dutch
@Derek Lyster: Brilliant Derek, that gave me a good laugh.
Is Scrumpy Jack still a thing? Gave up the liquor in 1997 / prob just as well for my liver.
Next for takeover surely is Buckfast?
Piss tastes better than Dutch
@Adam Rekio: haven’t tasted piss, would you recommend?
@Adam Rekio: I heard of taken the piss, but drinking it. Now that’s taken the piss.
If its not Dutch, it ain’t much.
Not a bad investment with Minimum Pricing coming in on Jan 1st The days of 6 Dutch Mould and the like on special will be long gone. Profit all the way!
Am I reading that right? The cost of letting 6 people go was 1.8m? How much were these people being paid?
@Conrad Shields: ah .. some one else caught it. Surely a typo
Brings back memories … doing my friday evening shopping in the supermarket and a gang of scruffy boys, who look no more than12, pestering me and shoving a grubby fiver into my hand as I try to get past them in the front door “get us a tray of Dutch Gold will ya mister and you can keep the change” … change? it costs me 9.60
Keep it classy Heineken.
@Ernie Gallagher: Dutch better in fairness
With the new laws on cheaper alcohol, will it not become a thing of the past?. It is a Belgian beer as far as I know, might be a P.C move by Hino.
@Mary Nugent: Harris Hino?
@Mary Nugent: It is only sold in Ireland.
@Ed: the channel islands also.
This has to be something to do with MUP, all those piss beers are about to be wiped out.
@Nehppo McG: not really, all the lower end beers are going from 500ml to 440ml and in 4 packs (from 6 and 8) with a slight price increase to comply with MUP regulations.
Trying to replace Paulaner with Dutch Gold. Lol.
It was cheap rubbish
1.6m for 6 staff redundancies, nice
The worst muck a human could consume….
Minium unit pricing coming in on new years day so no one will be buying dutch gold when it costs the same as Heineken!
@Noel McGivern: 4 pack Heineken €9 Dutch €5.
I recently been introduced to Peroni the Italian beer. Bit pricy but tasty as fook
have your say