Heineken ordered to pay MTB €111m in competition case

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Heineken and its Greek subsidiary, Athenian Brewery, have been ordered to pay Greek brewer Macedonian Thrace Brewery (MTB) €111 million in a longstanding competition case.

The judgement, announced today (21 October 2026) is the result of long-running proceedings after Macedonian Thrace Brewery filed a lawsuit against Heineken in the Amsterdam District Court in 2017.

The claim followed a December 2015 decision by the Hellenic Competition Commission, Greece’s competition regulator, which stated that Athenian Brewery had abused a dominant position in the country’s beer market for at least 16 years by restricting competition.

MTB, founded in 1996, produces Greece’s Vergina lager among its portfolio of premium and speciality beers produced in the Greek industrial area of Komotini. Athenian Brewery’s brands include local beer brands Alfa, Mamos, Nymphi and Noctua, alongside Heineken’s Amstel and Heineken brands.

In October 2024, the Amsterdam District Court held Heineken and Athenian Brewery jointly and severally liable for competition infringement due to Heineken’s majority ownership and influence over the subsidiary. Heineken appealed to the Dutch Supreme Court in June 2025, but the appeal was rejected.

Earlier this year, the Amsterdam court endorsed a damages quantification model developed by economic consultancy Oxera for MTB. It estimated that the principal damages to be awarded to MTB would be at least €43 million.

Now, in its latest judgement adopting Oxera’s model – which will be the final judgement in the case, according to MTB – the Dutch court has rejected the defences put forward by Heineken and its adviser, Charles River Associates.

In a statement, Heineken said the court awarded MTB damages of €43 million, together with statutory interest of €68 million.

Demetri Chriss, director of business development at MTB, said: “For nearly three decades, Heineken has done everything in its power to avoid being held accountable for the damage it has caused MTB, but the Amsterdam District Court’s judgment goes a long way in setting the record straight.”

Chriss added: “This is one of the most significant milestones in MTB’s history, as it recognises that hard work, careful planning and dedication can overcome even the most egregious of abuses by a multinational behemoth like Heineken. Justice has been served.”

Though MTB said the ruling will be final, Heineken’s statement said the company believes “an appeal is the appropriate legal step to ensure that these issues are fully reviewed.”

“Heineken respects the court and the legal process. At the same time, Heineken respectfully disagrees with important aspects of the Court's decision,” the company’s statement said. “In our view, damages claims of this scale should be grounded in evidence and reflect the commercial realities of the market.”

“The damages assessment relies in part on assumptions about MTB's sales, pricing and profitability in a hypothetical market scenario. In our view, those assumptions should be carefully tested against the available economic evidence and market developments during the relevant period. We do not believe the damages awarded adequately reflect those considerations.”