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Champion Breweries Plc has proposed a restructuring that will see it establish a new holding company, Champion Brands Limited, as the parent company of its expanding beverage business.
Under the proposed arrangement, Champion Breweries will become a subsidiary of Champion Brands, while its shares will be removed from the Nigerian Exchange (NGX) and replaced with shares of the new company.
The company said existing shareholders would receive one share in Champion Brands for every Champion Breweries share they currently hold, ensuring they retain the same level of ownership without paying additional money.
The proposal, which is subject to shareholders’ and regulatory approvals, is aimed at positioning the group for expansion into more beverage categories and African markets.
Under the new structure, Champion Brands will be converted into a public limited liability company and listed on the NGX. Its subsidiaries will include Champion Breweries and enJOYbev B.V., the company behind the Bullet range of ready-to-drink and energy beverages.
Champion Breweries said the restructuring became necessary following its growth from a Nigerian brewing company into a broader beverage group, particularly after the acquisition of enJOYbev, which expanded its product range and market presence to 14 African countries. The company said the holding-company structure would give it greater flexibility to direct investments across its businesses, strengthen its brands and support expansion into new products and markets.
Chairman of Champion Breweries, Imo-Abasi Jacob, said the proposed arrangement was designed to support the company’s long-term ambitions without changing shareholders’ ownership stakes.
“Our ambitions extend beyond the businesses and markets we serve today. We want to strengthen our existing brands, develop new products and pursue opportunities in new markets,” he said.
He added that the restructuring was the right step for the company and its shareholders, urging investors to support the proposal.
Managing Director and Chief Executive Officer, Malolan Sampath, said the arrangement would not affect the company’s operations, employees, customers or suppliers.
He said Champion Breweries would continue producing Champion Lager and Champ Malta at its brewery in Uyo, Akwa Ibom State.
The company explained that shareholders would not be diluted or bought out under the arrangement, as the new shares would be issued fully paid, with no additional payment or application required.
However, the proposal must first receive shareholders’ approval, the sanction of the Federal High Court and other necessary regulatory clearances.
Champion Breweries expects the restructuring to be completed in the first quarter of 2027, subject to the required approvals.
It said its shares would continue trading on the NGX as usual until the proposed arrangement is implemented.
Shareholders have been advised to study the Scheme Document, available free of charge from the company’s registrars, Africa Prudential Plc, before voting on the proposal.
