Nigerian Breweries has concluded plans to acquire an 80 per cent stake in Distell Wines and Spirits Nigeria Limited as part of efforts to capture significant growth opportunities in the wines and spirits segment of the brewing industry.

According to the announcement contained in a notification of the proposal sent to Nigeria Exchange Limited and signed by the company secretary, Uaboi Agbebaku, the company received the offer from Heineken Beverages Limited to acquire an 80 per cent majority interest in Distell Wines & Spirits Nigeria Limited.

Nigerian Breweries Acquires 80% Stake In Distell Nigeria
To that end, “the board resolved to consider the offer in detail with support from external legal and financial advisers and thereafter make a decision thereon in the coming weeks. The outcome of the decision will be communicated in due course,” the company secretary said.

Distell Nigeria is a subsidiary of Distell International Limited- a company 100 per cent owned by Heineken Beverages. Distell International Limited holds an 80 per cent shareholding in Distell Nigeria, which was founded in 2018 with its headquarters in Lagos, Nigeria.

Distell Nigeria produces wines and ciders locally and are also into the importation of wines, spirits, and flavoured alcoholic beverages from Distell Group in South Africa.

SOURCE:https://brandspurng.com/2023/06/06/nigerian-breweries-acquires-80-stake-in-distell-nigeria/