Nigerian Breweries acquires Distell

Nigerian Breweries Plc has completed the acquisition of a majority stake (80 per cent) in Distell Wines and Spirits Nigeria Limited, Distell Nigeria.

The completion of the acquisition followed the approval of the South Africa Reserve Bank (SARB) for the acquisition by Nigerian Breweries 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.

A statement issued by the company on Tuesday, June 4, 2024, quoted the Managing Director of Nigerian Breweries, Hans Essaadi, as saying the acquisition and subsequent commencement of business operations aligned with the strategic objective of the brewery company to expand its current product offerings beyond beer to include wines, spirits, and flavored alcoholic beverages.

Essaadi said the company remains unwavering in its commitment to cater for the diverse needs of consumers.

He said: “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.

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“We are excited to have the process completed and can’t wait to see how this transforms our business”.

In his remarks, the Managing Director of Distell Nigeria, Steve Ighorimoto, described the acquisition as an exciting new chapter for the company, saying it would help increase the capacity necessary to achieve improved business performance.

He said: “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.”

Distell Nigeria is involved in the local production of wines and ciders under license from Heineken Beverages.

According to the statement, the Nigerian Breweries, with the acquisition, will have access to both the local production and the importation of wines, spirits, and flavoured alcoholic beverages brands from South Africa.

These include Amarula Cream Liquor, Nederburg, Drostdy-Hof, 4th Street, Bain’s Whiskey, Knight Whiskey, Scottish Leader Whiskey, Chamdor wine ranges, Hunters, and Savanna.

The Star