Global brewing giant Heineken B.V. has reached an agreement with EnjoyCorp Limited, a holding company specializing in food, beverage, and hospitality brands, to divest its entire shareholding in The Raysun Nigeria Company Limited, the majority owner of Champion Breweries.
The proposed transaction is pending regulatory approvals, with expectations to close in Q2 2024.
Champion Breweries, a key player in the regional brewing industry listed on the NGX, has 86.5 percent of its shares owned by Raysun Nigeria Company Limited, a subsidiary of Heineken.
EnjoyCorp, committed to maintaining Champion Breweries’ listing on the NGX, aims to acquire a controlling stake in the company, integrating it as an anchor subsidiary.
“Heineken will continue to support Champion Breweries for a twelve-month period after the transaction has closed to ensure a smooth transition of ownership,” stated Jacob, Chairman of Champion Breweries.
The proposed acquisition marks EnjoyCorp’s strategic entry into the beverage category, demonstrating the company’s long-term commitment to the African consumer.
EnjoyCorp is actively building a diverse portfolio of food, beverage, and hospitality brands, positioning itself for transformative growth through strategic acquisitions and visionary leadership.
The company’s goal is to inspire customers to celebrate life’s moments responsibly. Champion Breweries provides contract brewing and packaging services to Nigerian Breweries Plc, a related party within the Heineken group. The company was founded in July 1974 and is headquartered in Uyo, Nigeria.
Meanwhile, Heineken Beverages is making significant strides in its commitment to sustainability. In South Africa, the company has pledged R2.3 billion (US$119.58M) to its returnable bottle program, aiming to more than double its share of returnable glass beer bottles.
This initiative aligns with Heineken’s global target to achieve a 65 percent returnable glass bottle rate and its broader ambition to achieve net-zero carbon by 2040 under the Brew a Better World strategy.
As part of this sustainable effort, Heineken launched the returnable 650ml Star bottle, featuring the iconic Heineken star on its body and the Heineken name deeply etched into the glass.
Jordi Borrut, Managing Director of Heineken Beverages, emphasized the broader impact of this initiative, stating, “The Heineken Returnable Star bottle is not just about clearing glass. We should always push ourselves to do more to create sustainable change in the communities where our business operates.”
