Nigerian Breweries Plc, a brewing company in Nigeria has completed the acquisition of a majority stake (80 percent) in Distell Wines and Spirits Nigeria Limited (Distell Nigeria).
This was made known in a statement by the company on Saturday.
“The completion of the transaction follows the approval of the South Africa Reserve Bank for the acquisition by Nigerian Breweries Plc, of the shares of the South African entity, Distell International Limited (now known as Heineken Beverages Holdings Limited) in Distell Nigeria, as well as the import business of Distell International Limited in Nigeria,” the statement said.
It said Distell is involved in the local production of wines and ciders under license from Heineken Beverages and that with the acquisition, Nigerian Breweries will have access to both the local production and the importation of wines, spirits, and flavoured alcoholic beverages brands from South Africa, including Amarula Crèam Liquor, Nederburg, Drostdy-Hof, 4th Street, Bain’s Whiskey, Knight Whiskey, Scottish Leader Whiskey, Chamdor wine ranges, Hunters, and Savanna
Hans Essaadi, managing director, Nigerian Breweries, said in the statement that the acquisition and subsequent commencement of business operations align with the strategic objective of the brewery company to expand its current product offerings beyond beer to include wines, spirits, and flavored alcoholic beverages.
“This acquisition is part of efforts to provide access to a complementary multi-category portfolio of fast-growing brands of wines and spirits market segment and capture significant growth opportunities in the wines and spirits segment of the brewing industry,” he said.
Essaadi added that they are excited to have the process completed and can’t wait to see how it will transform the business.
Steve Ighorimoto, managing director at Distell Nigeria noted that the acquisition is an exciting new chapter for the company as it would help increase the capacity necessary to achieve improved business performance.
“We are excited to be a part of Nigerian Breweries, as we share in the solid track record of growth, including a highly engaged, dynamic, experienced, and diverse team. These changes will strengthen the organisation’s manufacturing, marketing, and distribution capabilities while ensuring sustainable growth and maximum value creation for all stakeholders,” he said.
