Volksbank BraWo becomes a 50 percent partner in the Braunschweig private brewery. “Two traditional regional companies have formed an alliance.”
From left: Peter Lehna, Managing Director of Wolters, next to Jürgen Brinkmann Chairman of the Volksbank BraWo. Photo: Alexander Dontscheff
May 29, 2020
Brunswick. The unexpected negative effects of the Corona crisis and the tough competition in the brewing industry hit the Hofbrauhaus Wolters hard. The Hofbrauhaus relies on the support of a strong and reliable partner to effectively counter the resulting threat and to ensure the long-term existence of the traditional Braunschweig brewery. Therefore the Volksbank BraWo gets involved as an anchor investor. The two partners announced this today in a joint press conference.
Accordingly, the Volksbank BraWo becomes a 50 percent partner in the Braunschweig private brewery. It also provides the company with the necessary funds to continue investing in the machine park and production, as stated in the press release. In addition, additional funds would be available to strengthen the brand for qualified personnel.
“Wolters Hof” is to become a beer experience center
On the brewery grounds, the “Wolters Hof” is now to be expanded into an attractive event center, which should offer offers for company events, seminars, conferences and private parties. In addition, a beer garden over the summer months is also conceivable in the open space. “Beer” open-air festivals and family-friendly events could also take place there, as Jürgen Brinkmann, CEO of Volksbank BraWo further reports. A suitable operator for catering and events is currently being sought.
In order to bring the production closer to the consumer, there would also be ideas for an “adventure brewery” in the room as well as a museum where visitors can marvel at Wolters’ centuries of history. For the latter, one is currently still looking for historical objects. The “Wolters Shop” and merchandising are also to be expanded.
Sustainability and ecology
However, further extensive investments for a sustainable future are also planned. For example, part of the power supply should be converted to self-produced solar power.
This alliance of “two regional companies with a long tradition” came about because the brewery had been looking for a financially strong partner for a long time, who went through thick and thin with you and who you could rely on in any situation, reported Wolters Managing Director Peter Lehna in the press conference. The situation has worsened considerably due to the corona crisis. The real advantage that a large part of the sales is generated by the regional and local gastronomy proved to be a major problem due to the shutdown. The export market, on which the brewery is well represented, was also restricted. When looking for financial help, one also encountered a lot of indifference from other banks, complains Peter Lehna. Luckily, the Volksbank BraWo was found, which not only helped out of the liquidity crisis, but could also be won as a long-term partner.
Cooperation as a tandem
“The Wolters company is essentially healthy,” said Jürgen Brinkmann at the press conference. The bank’s task was to prevent such a company from going bankrupt due to the corona crisis. Therefore, together with the brewery, a plan had been drawn up on how to set up the company sustainably so that it could also establish itself in the region. Brinkmann described the future collaboration as a kind of tandem: “We sit in the back and kick, but we don’t take the wheel”.
For Wolters, Peter Lehna emphasized: “We don’t need to be afraid of the Volksbank BraWo. On the contrary, the cooperation gave employees a greater feeling of security.”
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