Distell Wines and Spirits Nigeria Limited has had its 80 percent ownership acquired by Nigerian Breweries Plc.
The transaction came to an end when the South African Reserve Bank (SARB) approved Nigerian Breweries Plc’s purchase of the shares of Distell International Limited, a South African company that is now known as Heineken Beverages Holdings Limited, in Distell Nigeria, along with the company’s import operations in Nigeria.
The acquisition and subsequent start of business operations, according to Hans Essaadi, Managing Director of Nigerian Breweries Plc, are in line with the company’s strategic goal of diversifying its current product offerings beyond beer to include wines, spirits and flavored alcoholic beverages.
Essaadi stated that the business is steadfast in its resolve to meet the wide range of needs of customers.
The goal of this acquisition, according to him, is to take advantage of large growth potential in the wines and spirits sector of the brewing business as well as to give access to a complementing multi-category portfolio of quickly expanding brands in that market segment.
“We are glad to have the operation finished and can’t wait to see how this transforms our business,” he said.
The acquisition is an exciting new chapter for the company, according to Managing Director of Distell Nigeria, Mr. Steve Ighorimoto, who also noted that it will help enhance the capacity required to achieve greater business performance.
“We are thrilled to be a part of Nigerian Breweries, as we share their strong development history and a team that is incredibly active, experienced, engaged and varied. According to him, these adjustments will ensure sustainable growth and the generation of the most value for all stakeholders while bolstering the organization’s manufacturing, marketing and distribution capabilities.
