German bankers are anxious to forge links with the country's privately owned premium beer brewers to exploit the next wave of consolidation arising from Carlsberg's €1bn ($1.3bn) purchase of Holsten, Germany's biggest brewer.

Bitburger Group, Wahrsteiner and Krombacher are Germany's three biggest family-owned brewers. All have big cash reserves and a reluctance to work with integrated investment banks, preferring to rely on long-standing relationships.