“EnjoyCorp Acquires Champion Breweries in Strategic Deal with Heineken”

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EnjoyCorp Limited, a prominent player in the food, beverage, and hospitality sector, has announced a deal to acquire the entire shareholding of Champion Breweries Plc from Heineken B.V. The agreement was disclosed in a corporate filing on the Nigerian Exchange Limited (NGX) on Wednesday, signed by Imo-Abasi Jacob, the Chairman of Champion Breweries.

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The proposed acquisition is contingent on obtaining necessary regulatory approvals, with the expectation to close the transaction in the second quarter of 2024. Champion Breweries, a major regional brewer listed on the NGX, has 86.5 percent of its shares owned by Raysun Nigeria Company Limited, a subsidiary of Heineken.

In 2021, Heineken acquired 1.9 billion ordinary shares of Champion Breweries through Raysun, following its initial purchase of a 57 percent stake in 2014. EnjoyCorp expressed its intention to maintain Champion Breweries’ listing on the NGX and outlined plans for Heineken’s continued support during a twelve-month transition period after the deal’s closure.

The acquisition marks EnjoyCorp’s strategic entry into the beverage category, aligning with its long-term commitment to the African consumer. The transaction will result in EnjoyCorp holding a controlling stake in Champion Breweries, integrating it as an anchor subsidiary.

EnjoyCorp, focused on building a diversified portfolio of food, beverage, and hospitality brands, aims to achieve transformative growth through strategic acquisitions and visionary leadership. The company envisions inspiring customers to responsibly explore, celebrate, and enjoy life’s moments with their loved ones.

Champion Breweries, headquartered in Uyo, Nigeria, provides contract brewing and packaging services to Nigerian Breweries Plc, a related party within the Heineken group. Founded in 1974, Champion Breweries has been a significant player in the Nigerian brewing industry.

Charles Akpeji
Charles Akpejihttps://naija247news.com
Charles Akpeji has over 20 years experience in journalism and he is Naija247news Taraba Correspondent. He lives and works from Jalingo, the state capital.

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