Appeal Court upholds Golden Guinea’s victory in N10bn legal battle with International Breweries

Golden Guinea Breweries Plc has secured yet another major legal victory against International Breweries Plc, as the Court of Appeal dismissed an appeal challenging a
N10 billion suit.

The appellate court’s ruling solidifies Golden Guinea’s position in the 10-year legal battle, marking a significant milestone for the indigenous brewer and a costly setback for its rival in their fight over the “Eagle Stout” trademark.

In its 42 page judgment seen by BusinessDay, the Apeal Court declared Golden Guinea Breweries Plc the Registered Proprietor of the “Eagle Stout” trademark registered as No 21153 in class 32 at the Trademark Registry, that Golden Guinea Breweries Plc is entitled to the exclusive use of the “Eagle Stout” Trademark and that International Breweries had infringed on the “Eagle Stout” Trademark of Golden Guinea Breweries Plc.

The Apeal Court in its judgment also granted an order of perpetual injunction restraining International Breweries Plc from further infringing and passing off Golden Guinea Breweries Plc’s “Eagle Stout” as theirs among other orders.

By throwing out the appeal filed by International Breweries, the court has cleared the path for Golden Guinea to protect its commercial interests and market share, further boosting investor confidence in the resurgent brand.

At the Nigerian Exchange Limited (NGX), the shares of Golden Guinea remained flat at N7.1 on Thursday. The company’s 1.003 billion outstanding shares are valued at N7.12 billion. International Breweries shares also remained unchanged at N11.4 per share. The stock had reached 52-week high of
N16.2 and a corresponding week low of N9.2.

Golden Guinea Breweries Plc shareholding structure revealed: Abia State Government holds 33,911,264 units or 3.38 percent; Imo State Government (18,044,208 units or 1.80 percent); Ebonyi State Government (1,563,591 units or 0.16 percent), Philmontan Nigeria Limited (31million units or 3.09 percent).

Other shareholders are: Couthinho, Caro & Co. Nigeria Limited (13.608million units or 1.36 percent); Holsten Baruerei AG Hamburg (15 million units or 1.50 percent); Floco Verwaltungs-Und (36,208,000 units or 3.61 percent); Other Nigerian Associations and Citizens (101,500,937 units or 10.12 percent) and Pan Marine Investments Limited (752.508 million units or 75 percent).

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Golden Guinea Breweries Plc had in a writ issued by its lawyer Omolola Aderolu approached the Federal High Court in 2016 demanding general damages in the sum of N10billion from International Breweries Plc for the infringement of their “Eagle Stout” Trademark, an order declaring Golden Guinea Breweries Plc as the Registered Proprietor of the “Eagle Stout” Trademark registered as No 21153 in Class 32 at the Nigerian Trademark Registry and an order of Perpetual Injunction restraining International Breweries Plc from further infringing and passing off Golden Guinea Breweries Plc “Eagle Stout” trademark among other reliefs.

Justice Stephen Dalyop Pam of the Federal High Court Port Harcourt Division ruled on March 6, 2024 after hearing Omolola Aderolu on behalf of Golden Guinea B and S. Nmor for International Breweries Plc

The Federal High Court had also awarded the sum of N10 billion against International Breweries Plc in favour of Golden Guinea Breweries Plc and dismissed the counter of International Breweries Plc for the sum of N57.385 million as special damages and N5million as general damages.

International Breweries Plc being dissatisfied with the Federal High Court judgment filed a Notice of Appeal dated June 5, 2024 at the Court of Appeal Port Harcourt Division challenging the judgment of the Federal High Court.

The Court of Appeal Port Harcourt Division after hearing the arguments of Abimbola Akeredolu (SAN) and Sixtus Inuoha on behalf of International Breweries Plc and Omolola Aderolu on behalf of Golden Guinea Breweris Plc delivered its judgment on May 13, 2026

The Court of Appeal held that the Federal High Court was right when it declared that Golden Guinea Breweries is the Proprietor of the “Eagle Stout’ and that International Breweries Plc had infringed on Golden Guinea Breweries Plc’s Eagle Stout.

The Court of Appeal also upheld the N10billion general damages awarded in favour of Golden Guinea Breweries and that the Federal High Court was right in dismissing the counter claim of International Breweries. The judgment of the Court of Appeal affirmed the judgment of the Federal High Court Port Harcourt Division.

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.