International Breweries seeks merger with AB InBev’s owned Intafact Beverages, Pabod Breweries

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Ilesha based, International Breweries, a subsidiary of Belgian Brewer, Anheuser-Busch InBev (AB InBev), has announced a possible merger with Intafact Beverages Limited and Pabod Breweries Limited, also co-owned by AB InBev.

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The proposal subject to regulatory approvals from the Nigerian Stock Exchange (NSE), the Securities and Exchange Commission (SEC) and shareholder approvals, announced on Tuesday through the Nigerian Stock Exchange is coming on the heels of an agreement by the Board of Directors of the three independently operated breweries.

According to a statement released by International Breweries Plc and signed by Company Secretary, Muyiwa Ayojimi, the proposal was considered and approved by its board in a meeting on 2 June 2017, and is expected to benefit all stakeholders, particularly shareholders in the form of increased revenue and cost synergies, enhanced operational efficiencies, better resource management and more streamlined operations.

The statement further said the three companies will continue to operate as separate entities until the regulatory and shareholder approvals are received.

International Breweries Plc is a public limited liability company based in Ilesha, Osun State. It was incorporated in 1971 and listed on the Nigerian Stock Exchange in 1995. The brewer is best known for its Trophy Lager beer and other non-alcoholic beverages.

Intafact Beverages Limited is a private limited liability company incorporated in February 2007 in Onitsha, Anambra State. The brewery was built by SABMiller, the former owners in 2011 and is best known for its Hero Lager beer, among others.

Pabod Breweries Limited is also a private limited liability company incorporated in 1978. The brewery which is located in Oginigba, Port Harcourt, Rivers State produces Grand Lager beer, Grand Malt, among others.

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