EnjoyCorp Acquires 86.5% Stake in Champion Breweries
EnjoyCorp Limited has successfully completed the acquisition of 86.5% stake in Champion Breweries plc, a prominent figure in the regional brewing industry, according to official statement.
In its regulatory filling submitted to the Nigerian Exchange, the brewers said EnjoyCorp acquired 100% shareholding in The Raysun Nigeria Limited, which in turn holds the 86.5% stake in Champion Breweries plc.
According to the notice, management told the Nigerian Exchange that sequel to the approval of the Federal Competition and Consumer Protection Commission, the parties have successfully completed the transaction, and EnjoyCorp has taken full control of 100% shares in The Raysun Nigeria Limited accordingly.
The notice reads that Champion Breweries plc will remain listed on the NGX, adding that EnjoyCorp is committed to building the company and galvanizing shareholder value through strategic initiatives and investments that align with its mission of enriching life’s moments through a diverse portfolio of brands.
“This acquisition marks EnjoyCorp’s strategic entry into the beverage category, underpinning the company’s long-term commitment to the African consumer”, the official statement released today added.
Following the acquisition, Champion Breweries Plc will be integrated as a cornerstone subsidiary within EnjoyCorp’s expanding portfolio of food, beverage, and hospitality brands.
Champion Breweries plc said the brewer remains confident that this partnership will unlock new opportunities and elevate the brand to greater heights. Shettima Inaugurates Distribution of NEDC-Assisted Agric Inputs in North East
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