Nigerian Breweries acquires 20% minority shares in Distell Wines & Spirits Nigeria
Nigerian Breweries Plc (NB) has notified the Nigerian Exchange Limited (NGX), shareholders, and the investing public that it has acquired the remaining 20per cent shareholding in Distell Wines and Spirits Nigeria Limited (DWSN).
The Company Secretary, NB, Uaboi Agbebaku, in a statement said the full acquisition follows the execution of a sale and purchase agreement with the DWSN minority shareholders,
According to him, 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 80per cent majority stake in DWSN.
“Also, to increase the production capacity for the DWSN brands, the company’s production operations have been moved from its rented premises to NB’s premises.
“This move will equally allow DWSN to benefit from economies of scale available at NB’s premises as well as help to grow its share in the wines, spirits and RTD categories,” the statement 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.
