Nigerian Breweries Acquires Minority Interest in Distell Wines
Nigerian Breweries Plc has announced acquisition of minority shares in Distell Wines and Spirits Nigeria Limited for an undisclosed amount. In a regulatory filing, the brewer told the Nigerian Exchange Limited its shareholders, and the investing public that it has acquired the remaining 20% shareholding in Distell Wines and Spirits Nigeria Limited.
Nigerian Breweries said the full acquisition follows the execution of a sale and purchase agreement with the DWSN minority shareholders, Ekulo International Limited and Next International Nigeria Limited, which each held a 10% stake in the company.
The company expressed that 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 80% majority stake in the company already recognised as its subsidiary.
It said 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 brewer said.
Distell Wine and Spirits limited brands in the market 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. #Nigerian Breweries Acquires Minority Interest in Distell Wines#
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