Moortgat family: Belgian brewery's ascent to a fortune of 1.8 billion euros

Moortgat family

Moortgatestablished as a brewery farm in 1871, became one of Belgium's most successful breweries, especially after the 1960s. This evolution includes the acquisition of brasserie Maredsous in 1963 and management of the bottling rights for Tuborg luxury beer in the Benelux until 1991. Around the 1970s, Duvel emerged as a flagship brand, initially marketed on Belgian shores, and helped create a wealth of over 1.8 billion euros for the Moortgat family.

The considerable expansion of the beer range - including Maredsous, Liefmans, and beers Chouffe - was complemented by the successful positioning of beer Vedett and the remarkable acquisition of the Antwerp brewery De Koninck. This strategy has made it possible to reduce Duvel Moortgat to the single Belgian market initially.

The turn towards the international market, particularly the US market, has propelled the company towards significant growth. In 2013, Moortgat strengthened its presence in the U.S. by acquiring a majority stake in Boulevard Brewing Company. This pride in the Belgian identity of its beers has been a significant asset in the United States, where Duvel is now available in 48 states.

Management decided in 2012 to abandon the Brussels stock exchange due to short-term visions that contrasted with the company's long-term strategy. The majority of the capital was already under the control of the family shareholders, led by Michel Moortgat, who financed this transition through the brewery itself. Later, this maneuver yielded substantial dividends to repay the loans taken out for the delisting. Ownership divided equally between the brothers Michel, Philippe, and Bernard Moortgatwith Veerle Degeeher as minority shareholder.

In 2022, the Moortgat family has organized the handover to the next generation, valuing the brewery at 1.6 billion euros.

Moortgat's continued expansion illustrates the ability of a family business to remain true to its heritage while adapting to a changing market with diversification and internationalization strategies.