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Nigerian Breweries to acquire 80% shareholding in Distell Nigeria

Shareholders approve Nigerian Breweries N600bn rights issue as devaluation risk weighs

Nigerian Breweries Plc has informed the Nigerian Exchange Limited (NGX) and the investing public that at a specially convened meeting of the Board of Directors of the Company held on May 30, the Board was presented with an offer from Heineken Beverages (Holdings) Limited (Heineken Beverages) of South Africa, for Nigerian Breweries to acquire Heineken Beverages’ majority interests (via Distell International Limited) in Distell Wines & Spirits Nigeria Limited (Distell Nigeria).

Distell Nigeria is a subsidiary of Distell International Limited (100percent owned by Heineken Beverages). Distell International Limited owns 80percent shareholding in Distell Nigeria, which was founded in 2018 with its headquarters in Lagos, Nigeria.

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Distell Nigeria’s operations are in two folds: local production of wines (still and sparkling) and ciders; and importation of wines, spirits and flavoured alcoholic beverages from Distell Group in South Africa.

Its brand portfolio includes Amarula, JC Leroux, Nederburg, Drostdy Haf, 4th Street, Bain’s, Knights, Chamdor, Hunters and Savanna.

Nigerian Breweries said its 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.”