NB Plc to acquire 80% of Distell Wines & Spirits

The Nigerian Breweries Plc has announced plans to acquired an 80 per cent shareholding in Distell Wines & Spirits Nigeria Limited, in what industry observers have called a bold move that could reshape the Nigerian beverage market.
The revelation was made public through a notice submitted to the Nigerian Exchange Limited.
The Managing Director of Distell Nigeria Limited, Mr. Steve Ighorimoto, a Fellow of the Institute of Change Management (ICM) also confirmed the development in his Ikeja, Lagos head office cum factory, yesterday.
Distell Wines & Spirits Nigeria Limited is a subsidiary of Distell International Limited, which is wholly owned by Heineken Beverages.
Established in 2018, it operates in two primary sectors: local production of wines (still and sparkling) and ciders, as well as the importation of wines, spirits, and flavored alcoholic beverages from the Distell Group in South Africa. Its brand portfolio includes popular names such as Amarula, JC Leroux, Nederburg, Drostdy Haf, 4th Street, Bain’s, Knights, Chamdor, Hunters, and Savanna.
The Company Secretary of NB PLC, Uaboi G. Agbebaku, in a statement confirmed that during a specially convened meeting of the Board of Directors on May 30, an offer was presented to Nigerian Breweries from Heineken Beverages (Holdings) Limited, based in South Africa. The offer proposed Nigerian Breweries’ acquisition of Heineken Beverages’ majority interests in Distell Wines & Spirits Nigeria Limited, held through Distell International Limited.