Nigerian Breweries Plc has sought the approval of its shareholders regarding the acquisition of an 80 percent stake in Distell Wines and Spirits Nigeria Limited.
Distell Nigeria is a subsidiary of Distell International Limited — a company 100 percent owned by Heineken Beverages.
Distell International Limited holds 80 percent shareholding in Distell Nigeria, which was founded in 2018 with its headquarters in Lagos.
According to a corporate filing on the Nigerian Exchange Limited (NGX), Nigerian Breweries is also seeking the consideration of its shareholders for the import business of Heineken Beverages (Holding) Limited in Nigeria.
This includes the licence to market, distribute and sell the imported products, as well as produce any of the imported brands locally.
According to the statement, Nigerian Breweries board also resolved to convene an extraordinary general meeting to enable shareholders to consider and approve the acquisition, amongst others.
“The proposed acquisition, which will also be subject to any applicable regulatory approval process, aligns with the Company’s strategic objective of expanding its current product offerings beyond beer to include, wines, spirits, and flavored alcoholic beverages,” Nigerian Breweries said.
The proposed acquisition, according to the company, also provides it with growth opportunities and long-term profitability.
Distell Nigeria’s brand portfolio includes Amarula, JC Leroux, Nederburg, Drostdy Haf, 4th Street, Bain’s, Knights, Chamdor, Hunters, and Savanna.