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Ottakringer sells Pécs Brewery to Hungarian peer

Pécs Brewery, the Hungarian subsidiary of Austrian brewer Ottakinger, was sold to Hungaryʼs MAVA Befektetesi and BanKonzult Commerce, under an agreement signed on Friday, according to reports.

The purchase price of the brewery, which has posted losses for the past couple of years, was not made public at the request of the buyers, Hungarian news agency MTI reported.

“It was important to us that the new owners will continue operating the brewery and that people will keep their jobs,” head of the Ottakringer group Sigi Menz said in a statement quoted by MTI.