Guinness Nigeria Plc has described as incorrect, the recent speculations and false/malicious misinformation alleging a plan to exit the Nigerian market.
Contrary to rumors being peddled on various media platforms, Guinness Nigeria says it remains firmly committed to its operations in Nigeria and is poised for a new phase of growth and innovation.
“Since commencing operations in April 1950, Guinness Nigeria boasts of a proud and eventful 74-year legacy intricately woven into Nigeria’s cultural and economic fabric. Our unwavering commitment to Nigeria is evident in the substantial investments in infrastructure, employment, backward integration, community development, and social responsibility initiatives.
“The recent announcement of the partnership between Diageo and Tolaram Group further reinforces unequivocally that Guinness Nigeria remains committed to Nigeria and has no intention of exiting the dynamic Nigerian market. Our business will continue strongly, and no jobs or factories will be adversely affected as a result of this new partnership.”
Under the partnership announced, Guinness says Tolaram Group will acquire a 58.02% majority stake in Guinness Nigeria, enabling it to harness and leverage Tolaram Group’s extensive expertise in manufacturing and distribution.
“Importantly, Guinness Nigeria will retain its status as a listed company on the Nigerian Stock Exchange, maintaining its prime status in the Nigerian beverage industry. Diageo’s establishment of a wholly-owned international premium spirits company in Nigeria is also a noteworthy demonstration of its continuing dedication to sustaining its operations across West and Central Africa, with Nigeria as a pivotal operational hub.”
Under a long-term license and royalty arrangement, Guinness Nigeria says it will continue to produce and sell all its iconic brands, including Guinness FES and Smooth, Smirnoff Ice, Orijin Bitters, and Malta Guinness, as well as Diageo MSS brands like Smirnoff X1, Gordon’s Moringa and Captain Morgan Gold Rum, ensuring our esteemed consumers nationwide continue to enjoy their favorite beverages.
“We are excited to embark on this new chapter of growth and development in Nigeria,” the beer giant said.
