Nigeria: Nigerian Breweries Plc to acquire 80% stake in Distell Wines

Nigerian Breweries Plc has concluded plans to acquire 80% 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.

This is according to a notification to the Nigerian Exchange Limited, NGX, and signed by the company secretary, Uaboi Agbebaku, Nigerian.

Breweries received the offer from Heineken Beverages (Holdings) Limited to buy or acquire 80% majority interests in Distell Wines & Spirits Nigeria Limited.

“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.” A statement read

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

Distell Nigeria is involved in the local production of wines and ciders and the importation of wines, spirits, and flavored alcoholic beverages from Distell Group in South Africa.