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 Beverages.
In a statement signed by Uaboi Agbebaku, the company secretary, on Wednesday, Nigerian Breweries said the acquisition followed a sale and purchase agreement with Ekulo International Limited and Next International Nigeria Limited, the minority shareholders, who each held a 10 percent stake in DWSN.
“Nigerian Breweries Plc (“NB”) hereby notifies the Nigerian Exchange Limited (“NGX”), its shareholders, and the investing public that it has acquired the remaining 20% shareholding in Distell Wines and Spirits Nigeria Limited (“DWSN”),” the statement reads.
“The full acquisition follows the execution of a sale and purchase agreement with the DWSN minority shareholders, Ekulo International Limited and Next International Nigeria Limited, which each held a 10% stake in the company.
“The full acquisition will help to reduce complexities and make decision-making faster in the NB’s ambition to expand beyond beer. NB had previously, in June 2024, completed the acquisition of the 80% majority stake in DWSN.”
The company said to expand production capacity for DWSN brands, its manufacturing operations have been relocated from its rented facility to Nigerian Breweries’ premises.
Nigerian Breweries said the move will equally allow DWSN to benefit from economies of scale available at the company’s premises and help to grow its share in the wines, spirits and ready-to-drink (RTD) categories.
“Key wine and RTD brands produced locally by DWSN include Chamdor, 4th Street, Hunters Dry and Savanna. NB’s imported wines and spirits brands include Amarula Cream Liqueur, Drosty Hoff and Nederburg wines, and Bain’s whisky,” Nigerian Breweries added.
On June 2, 2024, the company announced that it had successfully completed the acquisition of an 80 percent majority stake in Distell Nigeria.
Nigerian Breweries said the transaction was finalised following approval from the South African Reserve Bank (SARB).
