Nigerian Breweries has acquired an 80 per cent stake in Distell Wines and Spirits Nigeria Limited which gives it an opportunity to capture significant chunk of the wines and spirits segment of the brewing industry.
In a notification sent to Nigeria Exchange Limited and signed by the company secretary, Uaboi Agbebaku, it was announced that Distell Wines & Spirits Nigeria Limited has received an offer from Heineken Beverages Limited to acquire an 80 percent majority interest in the company.
The board of Distell Wines & Spirits Nigeria Limited has decided to carefully consider the offer with the assistance of external legal and financial advisors. A detailed evaluation will take place, and a decision will be made in the coming weeks. The outcome of this decision will be communicated at the appropriate time. “the board resolved to consider the offer in detail with support from external legal and financial advisers and thereafter make a decision thereon in the coming weeks. The outcome of the decision will be communicated in due course,” the company secretary said.
Distell Nigeria is a subsidiary of Distell International Limited, a company fully owned by Heineken Beverages. Distell International Limited currently holds an 80 percent stake in Distell Nigeria, which was established in 2018 and has its headquarters in Lagos, Nigeria.
Distell Nigeria is involved in the local production of wines and ciders and also imports wines, spirits, and flavored alcoholic beverages from the Distell Group in South Africa.