We reassessed two drill cores of the Bunte Breccia deposits of the Ries crater, Germany. The objectives of our study were the documentation of evidence for water in the Bunte Breccia, the evaluation of how that water influenced the emplacement processes, and from which preimpact water reservoir it was derived. The Bunte Breccia in both cores can be structured into a basal layer composed mainly of local substrate material, overlain by texturally and compositionally diverse, crater‐derived breccia units. The basal layer is composed of the youngest sediments (Tertiary clays and Upper Jurassic limestone) and has a razor‐sharp boundary to the upper breccia units, which are composed of older rocks of Upper Jurassic to Upper Triassic age. Sparse material exchange occurred between the basal layer and the rest of the Bunte Breccia. Fluids predominantly came from the Tertiary and the Upper Triassic sandstone formation. In the basal layer, Tertiary clays were subjected to intense, ductile deformation, indicating saturation with water. This suggests that water was mixed into the matrix, creating a fluidized basal layer with a strong shear localization. In the upper units, Upper Triassic sandstones are intensely deformed by granular flow. The texture requires that the rocks were disaggregated into granular sand. Vaporization of pore water probably aided fragmentation of these rocks. In the Otting core, hot suevite (T > 600 °C) covered the Bunte Breccia shortly after its emplacement. Vertically oriented gas escape pipes in suevite partly emanate directly at the contact to the Bunte Breccia. They indicate that the Bunte Breccia contained a substantial amount of water in the upper part that was vaporized and escaped through these vents.