Champion Breweries Moves to Acquire Bullet
Champion Breweries Plc, a subsidiary of enJOYcorp, has entered into an agreement for the acquisition of all brand assets and intellectual property of the Bullet range of ready-to-drink (RTD) alcoholic and energy beverages from Sun Mark International Limited.
The brewer disclosed in a regulatory filing submitted to the Nigerian Exchange that the transaction is structured as an asset carve-out, with the assets to be held in a newly incorporated company in the Netherlands.
Post-acquisition, Champion Breweries Plc will hold a majority interest in the new business, while Vinar N.V, a Belgian entity and the majority shareholders of Sun Mark, will hold a minority stake.
Bullet is currently present in over 14 African markets, including Nigeria, Cameroon, Ghana, Ivory Coast, DRC, and Tanzania. The Bullet Black RTD is currently the leading RTD brand in Nigeria, while the Bullet Blue energy drink ranks amongst the top six brands.
The transaction is subject to the receipt of the necessary regulatory approvals, including from the Federal Competition and Consumer Protection Commission (FCCPC), Champion Breweries told the Nigerian Exchange.
Following completion of the acquisition, Champion Breweries Plc will consolidate the financial performance of Bullet’s assets into its reporting, reflecting both immediate benefits and long-term cost synergies through integrated supply chain, portfolio expansion, operational integration, product development, and enhanced market presence. # Champion Breweries Moves to Acquire Bullet Dangote Cement Falls Below N9trn as Investors Exit Positions
