June 01, (THEWILL) – Nigerian Breweries Plc will decide in the weeks ahead whether to acquire the controlling stake in the local unit of Stellenbosch-based Distell International Limited after an offer from Heineken Beverages Limited South Africa, the company said in a statement issued on Wednesday.
According to the statement, the company got an approach from Heineken Beverages to buy the 80 per cent shareholding in Distell Wines & Spirits Nigeria Limited, which the latter is looking to offload.
Distell International Limited is fully owned by Heineken Beverages and has spirits, wines and ciders within its product mix including internationally known brands like Amarula, Savanna, Chamdor and Hunter’s Dry.
“The Board resolved to consider the offer in detail with support from external legal and financial advisers and thereafter make a decision thereon in the coming weeks,” the document said.
Distell Nigeria locally produces still and sparkling wines as well as ciders in addition to importing wines, spirits and flavoured alcoholic beverages from the parent company in South Africa.
The approach from Heineken Beverages presents Nigerian Breweries with the chance to branch out into the manufacturing of such products, none of which is present in its portfolio of around 22 brands, according to the information on its website.
Sam Diala is a Bloomberg Certified Financial Journalist with over a decade of experience in reporting Business and Economy. He is Business Editor at THEWILL Newspaper, and believes that work, not wishes, creates wealth.
