NIGERIAN Breweries Plc (NB) has completed the acquisition of the remaining 20 percent stake in Distell Wines and Spirits Nigeria Limited (DWSN).
Distell Nigeria is a subsidiary of Distell International Limited, a company 100 percent owned by Heineken.
In a disclosure sent to the investing community through the Nigerian Exchange (NGX) and signed by company secretary, Uaboi G. Agbebaku, the company noted that the acquisition follows the execution of a sale and purchase agreement with the minority shareholders of DWSN: Ekulo International Limited and Next International Nigeria Limited, each holding a 10 percent stake.
“The full acquisition will help to reduce complexities and make decision-making faster in NB’s ambition to expand beyond beer,” the notice said.
The release also noted that DWSN has moved its production from rented premises to NB’s facilities, allowing it to enhance its market share in the wines, spirits, and ready-to-drink (RTD) categories.
It will be recalled that in June 2024, Nigerian Breweries announced its acquisition of an 80 percent stake in Distell Wines & Spirits Nigeria Limited and 100 percent of Heineken Beverages’ import business in Nigeria.
Following this transaction, DWSN became a subsidiary of Nigerian Breweries, which allowed the company to expand its operations to include the importation, marketing, and distribution of various wines, spirits, and cider products.
DWSN’s brands, produced and distributed in Nigeria under a license from Heineken Beverages, include the 4th Street wine range (red, rosé, white, sparkling, and non-alcoholic), as well as Chamdor, Hunters Dry, Savannah Dry and Gold.
The imported wines and spirits brands in the portfolio feature Drosty Hof, Nederburg, Amarula Cream Liqueur, Bain’s Whisky, and Scottish Leader Whisky.
With this recent acquisition, Nigerian Breweries now owns 100 percent of Distell Wines and Spirits Nigeria Limited, compared to the 80 percent stake it previously held.
Nigerian Breweries Plc reported a significant growth in its full-year revenue for 2024, soaring by 80.8 percent year-over-year to reach N1.08 trillion, up from N599.6 billion in the prior year.
Notably, domestic sales in Nigeria constituted 99.9 percent of this revenue, while export sales accounted for a mere 0.1 percent .
However, the cost of sales saw a substantial increase of 97.5 percent, rising to N764.5 billion from N387 billion reported the previous year.
Ultimately, Nigerian Breweries reported a post-tax loss of N144.8 billion for FY 2024, as detailed in its full-year audited financial report released on the NGX on February 14, 2025.
In response to the challenges impacting net profit and to strengthen its financial position, Nigerian Breweries, with the support of its shareholders, initiated a business recovery plan in 2024, which included a Rights Issue.
ALSO READ TOP STORIES FROM NIGERIAN TRIBUNE
and then