Nigeria’s foremost brewing company, Nigerian Breweries Plc, has concluded plans to acquire an 80 per cent stake in Distell Wines and Spirits Nigeria Limited as part of efforts to capture significant growth opportunities in the wines and spirits segment of the brewing industry.
The announcement is contained in a notification of proposal sent to Nigeria Exchange Limited and signed by the company secretary, Uaboi Agbebaku, on Wednesday, May 31, 2023
Nigerian Breweries Plc received the offer from Heineken Beverages (Holdings) Limited to buy or acquire 80 per cent majority interests in Distell Wines & Spirits Nigeria Limited (“Distell Nigeria”).
“The 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,” said Agbebaku.
Distell Nigeria is a subsidiary of Distell International Limited- a company 100 per cent owned by Heineken Beverages. Distell International Limited holds 80 per cent shareholding in Distell Nigeria, which was founded in 2018 with its headquarters in Lagos, Nigeria.
Distell Nigeria is involved in the local production of wines and ciders and the importation of wines, spirits, and flavored alcoholic beverages from Distell Group in South Africa.
The list of brands in its portfolio includes Amarula, JC Leroux, Nederburg, Drostdy Haf, 4th Street, Bain’s, Knights, Chamdor, Hunters, and Savanna.