Nigerian Breweries Plc, Nigeria’s foremost brewing company has concluded plans to acquire an 80 per cent stake in Distell Wines and Spirits Nigeria Limited as part of efforts to capture significant growth opportunities in the wines and spirits segment of the brewing industry.
The announcement is contained in a notification of the proposal sent to Nigeria Exchange Limited and signed by the company secretary, Uaboi Agbebaku.
Nigerian Breweries Plc received the offer from Heineken Beverages Limited to buy or acquire 80 per cent majority interests in Distell Wines & Spirits Nigeria Limited.
“The Board resolved to consider the offer in detail with support from external legal and financial advisers and thereafter make a decision thereon in the coming weeks. The outcome of the decision will be communicated in due course,” Agbebaku said.
Distell Nigeria is a subsidiary of Distell International Limited- a company 100 per cent owned by Heineken Beverages. Distell International Limited holds 80 per cent shareholding in Distell Nigeria, which was founded in 2018 with its headquarters in Lagos, Nigeria.
Distell Nigeria is involved in the local production of wines and ciders and the importation of wines, spirits, and flavoured alcoholic beverages from Distell Group in South Africa.
The list of brands in its portfolio includes Amarula, JC Leroux, Nederburg, Drostdy Haf, 4th Street, Bain’s, Knights, Chamdor, Hunters, and Savanna.
This acquisition will further strengthen the company’s leadership position in the brewing segment of the Nigerian manufacturing sector.
YOU SHOULD NOT MISS THESE HEADLINES FROM NIGERIAN TRIBUNE
Oyedepo, Enenche, others not fake for supporting Obi – Primate Ayodele
The leader of INRI Evangelical Spiritual Church, Primate Elijah Ayodele has cautioned Nigerians from referring to Bishop Oyedepo, Pastor Paul Enenche, and…
WEEK BRIEF: Tinubu Presidency, fuel subsidy saga and NLC war drums
On May 29, Bola Ahmed Tinubu became the 16th president of the Federal Republic of Nigeria. He was sworn in as President of Nigeria by…
Why I sacked Auxiliary as PMS boss — Makinde
Following the clash of interest that ensued between the former Chairman of disciplinary committee of the Park Management System in…
I met my wife virgin at 21 — Isreal DMW
Superstar Davido’s aide, Isreal Afeare aka Isreal DMW, has responded to critics who were trolling him over his…
DURING his inauguration speech, President Bola Ahmed Tinubu announced that the era of…
SERIE A: Victor Osimhen becomes first African to win Capocannoniere award
In a historic achievement Napoli striker Victor Osimhen has become the first African footballer to…
and then