Nigerian Breweries Plc has completed the acquisition of the remaining 20 per cent stake in Distell Wines and Spirits Nigeria Limited, securing full ownership of the company.
In a regulatory filing with the Nigerian Exchange Limited by the company secretary, Uaboi Agbebaku, on Wednesday, the company said the acquisition follows the execution of a sale and purchase agreement with DWSN’s minority shareholders, Ekulo International Limited and Next International Nigeria Limited, which each held a 10 per cent stake.
The company stated, “Nigerian Breweries Plc hereby notifies the Nigerian Exchange Limited, its shareholders, and the investing public that it has acquired the remaining 20 per cent shareholding in Distell Wines and Spirits Nigeria Limited.”
It noted that the full acquisition would simplify decision-making and accelerate its expansion beyond the beer market. The company had previously acquired an 80 per cent majority stake in DWSN in June 2024.
To enhance production capacity, Nigeria Breweries said DWSN’s operations had been relocated from a rented facility to its own premises.
According to the statement, this move would enable DWSN to benefit from economies of scale and strengthen its position in the wines, spirits, and ready-to-drink segments.
“This acquisition marks a strategic step in our ambition to expand beyond beer, drive operational efficiency, and strengthen our position in the wines and spirits market,” NB stated.
The PUNCH reported that Guinness Nigeria Plc has reaffirmed its commitment to remaining a publicly listed entity on the Nigerian Exchange despite the ongoing Mandatory Takeover Offer by N Seven Nigeria Limited, a subsidiary of Tolaram Group.
Related News
11 Mar, 2025
Waymo’s robotaxi service now available i . . .
17 Mar, 2025
Russia deems it expedient to convene 13t . . .
30 Mar, 2025
Beier double helps Dortmund beat Mainz 3 . . .
11 Feb, 2025
Will the UEFA Champions League final be . . .
19 Mar, 2025
'I got released by Man United at 18 and . . .
20 Mar, 2025
First black international footballer who . . .
13 Mar, 2025
Gardaí investigate vandalism attack at T . . .
17 Mar, 2025
3-2-1 Qatar Olympic and Sports Museum Pa . . .