Nigerian Breweries Plc has acquired the remaining 20% of Distell Wines and Spirits Nigeria Limited to enhance decision-making and expand its product offerings in the beverages sector.
Target Information
Nigerian Breweries Plc (NB) has completed the acquisition of the remaining 20% shareholding in Distell Wines and Spirits Nigeria Limited (DWSN). This full acquisition follows a sale and purchase agreement with the minority shareholders, Ekulo International Limited and Next International Nigeria Limited, each of whom held a 10% stake in DWSN. By acquiring full ownership, NB aims to streamline decision-making processes and further its ambition to diversify beyond its core beer product line.
Previously, in June 2024, NB secured a majority stake by acquiring 80% of DWSN. The recent transaction underscores NB's commitment to enhancing its footprint in the fast-growing wines and spirits market in Nigeria, highlighting the company's strategic focus on expanding its product portfolio.
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Industry Overview
The Nigerian beverage industry, particularly the alcoholic segment, has experienced steady growth over the past few years. The rise in disposable income among consumers, coupled with changing lifestyles, has led to increased
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