Nigerian Breweries Plc (NB) has completed the acquisition of the remaining 20 per cent stake in Distell Wines and Spirits Nigeria Limited (DWSN), a Heineken-affiliated subsidiary.
Gatekeepers News reports that before this, the company on June 2, 2024, announced that it had completed the acquisition of an 80 per cent majority stake in Distell Nigeria.
Nigerian Breweries announced the development in a statement by Uaboi Agbebaku, the company secretary, on Wednesday,
The company 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 per cent stake in DWSN.
The statement reads, “Nigerian Breweries PIc (“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 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.”
Nigerian Breweries added that to expand production capacity for DWSN brands, its manufacturing operations have been relocated from its rented facility to Nigerian Breweries’ premises.
It noted that 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.
The company added, “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.”
