EnjoyCorp Limited has successfully completed the acquisition of 86.5 percent stake in Champion Breweries Plc, a prominent figure in the regional brewing industry.
EnjoyCorp acquired 100 percent shareholding in The Raysun Nigeria Limited, which in turn holds the 86.5 percent stake in Champion Breweries Plc listed on the Nigerian Exchange Group.
Sequel to the approval of the Federal Competition and Consumer Protection Commission, the parties have successfully completed the transaction, and EnjoyCorp has taken full control of 100 percent shares in The Raysun Nigeria Limited accordingly. Champion Breweries plc will remain listed on the NGX.
“EnjoyCorp is committed to building our company and galvanizing shareholder value through strategic initiatives and investments that align with its mission of enriching life’s moments through a diverse portfolio of brands,” the company promised in a notice of the transaction sent to NGX Ltd on Wednesday.
This acquisition marks EnjoyCorp’s strategic entry into the beverage category, underpinning the company’s long-term commitment to the African consumer.
Champion Breweries Plc will be integrated as a cornerstone subsidiary within EnjoyCorp’s expanding portfolio of food, beverage, and hospitality brands.
“EnjoyCorp is welcome aboard Champion Breweries Plc, and we look forward to an exciting new chapter of growth and value creation for all its stakeholders, powered by EnjoyCorp’s vision and resources,” the company said.
Meanwhile, Champion Breweries plc said it is confident that the partnership will unlock new opportunities and elevate its brand to greater heights.