Guinness Nigeria Plc has dismissed recent speculation and misinformation about its plans to exit the Nigerian market.
Gatekeepers News reports that in a statement, the company reaffirmed its commitment to Nigeria, where it has operated for 74 years.
“We remain firmly committed to our operations in Nigeria and are poised for a new phase of growth and innovation,” the company said.
“Our commitment to Nigeria is evident in our substantial investments in infrastructure, employment, backward integration, and community development initiatives.”
The company’s partnership with Tolaram Group, announced recently, will see Tolaram acquire a 58.02% majority stake in Guinness Nigeria, enabling the company to leverage Tolaram’s expertise in manufacturing and distribution.
Guinness Nigeria noted that it will retain its status as a listed company on the Nigerian Stock Exchange.
“We are excited to embark on this new chapter of growth and development in Nigeria,” the company said.
“Our business will continue strongly, and no jobs or factories will be adversely affected as a result of this new partnership.”
Guinness Nigeria added that it will continue to produce and sell its iconic brands, including Guinness FES and Smooth, Smirnoff Ice, Orijin Bitters, and Malta Guinness, under a long-term license and royalty arrangement with Diageo.
