Champion Breweries Plc has announced the completion of the acquisition of an 86.5 percent stake by EnjoyCorp Limited, a company in the food, beverage, and hospitality sectors.
Imo-Abasi Jacob, chairman of Champion Breweries, revealed this in a corporate filing on the Nigerian Exchange Limited (NGX) on Wednesday.
Champion Breweries provides packaging services to Nigerian Breweries Plc, which produces Champion lager beer and Champ Malta, through its subsidiary, Raysun Nigeria Company Limited, part of Heineken.
The acquisition comes four months after EnjoyCorp agreed to acquire Heineken B.V.’s 100 percent shareholding in Champion Breweries.
In 2021, Heineken had acquired 1.9 billion ordinary shares of Champion Breweries through Raysun, following a 57 percent stake purchase in 2014.
Jacob announced that the acquisition was finalized following regulatory approvals.
“EnjoyCorp Limited has successfully acquired an 86.5% stake in Champion Breweries Plc, a key player in the regional brewing industry,” the statement reads.
“EnjoyCorp purchased 100% shareholding in Raysun Nigeria Limited, which owns the 86.5% stake in Champion Breweries listed on the NGX. With the approval of the Federal Competition and Consumer Protection Commission, the transaction is complete, and EnjoyCorp now holds full control of Raysun’s shares.”
Jacob emphasized EnjoyCorp’s commitment to enhancing shareholder value through strategic investments aligned with its mission of enriching life’s moments through a diverse brand portfolio.
“This acquisition signifies EnjoyCorp’s strategic entry into the beverage sector, highlighting the company’s long-term dedication to African consumers.”
Champion Breweries will be integrated as a key subsidiary within EnjoyCorp, expanding its portfolio of food, beverage, and hospitality brands.
Jacob added that Champion Breweries will remain listed on the NGX and expressed confidence that the partnership would unlock new opportunities and elevate the brand to greater heights.”
