Nigerian Breweries Plc has completed the acquisition of an 80% stake in Distell Wines and Spirits Nigeria Limited (Distell Nigeria). This follows the approval from the South Africa Reserve Bank (SARB) for Nigerian Breweries Plc to acquire shares of Distell International Limited, now known as Heineken Beverages Holdings Limited, in Distell Nigeria, along with the import business of Distell International Limited in Nigeria.
Hans Essaadi, Managing Director of Nigerian Breweries Plc, stated that this acquisition aligns with the company's strategic objective to diversify its 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. We are excited to have the process completed and can’t wait to see how this transforms our business," Essaadi said.
Steve Ighorimoto, Managing Director of Distell Nigeria, remarked that this acquisition marks an exciting new chapter for the company by increasing its capacity for 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 organization’s manufacturing, marketing, and distribution capabilities while ensuring sustainable growth and maximum value creation for all stakeholders," he stated.
Distell Nigeria is involved in local production under license from Heineken Beverages. With this acquisition, Nigerian Breweries will gain access to both local production and importation of various brands from South Africa such as Amarula Crèam Liquor, Nederburg, Drostdy-Hof, 4th Street, Bain’s Whiskey, Knight Whiskey, Scottish Leader Whiskey, Chamdor wine ranges, Hunters, and Savanna.
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