By Sunday Ani
Guinness Nigeria PLC yesterday announced an update to its initial notification dated October 5, 2023, regarding the change in distribution model for imported Diageo International Premium Spirit (IPS) brands.
Following preliminary steps taken by Guinness Nigeria PLC and Diageo since the initial announcement, it has become apparent that the transition to the new distribution model is taking longer than anticipated. As a result, the completion of the implementation of the separation of the IPS brands from Guinness Nigeria’s business, initially scheduled for April 2024, will now become effective during the course of Guinness Nigeria Plc financial year 2025.
During this transition period, Guinness Nigeria PLC will continue to import and distribute Diageo international premium spirits products, including Johnnie Walker, Singleton, and Baileys, among others, under its existing 2016 Sale & Distribution Agreement with Diageo plc.
The separation of the IPS brands is part of Guinness Nigeria’s long-term growth strategy and aligns with Diageo plc’s decision to establish a new, wholly-owned spirits-focused business to manage the importation and distribution of its international premium spirits portfolio in West and Central Africa, with Nigeria as one of the hubs. There are no changes to Diageo plc’s shareholding in Guinness Nigeria, and Diageo remains a key shareholder of Guinness Nigeria.
Guinness Nigeria PLC remains committed to manufacturing and distributing its full portfolio of non-alcoholic drinks, beer, ready-to-drink (RTDs), and locally produced spirits, including Orijin, Captain Morgan Gold, Gordon’s Moringa, and Smirnoff X1 Choco.