Nigerian Breweries Plc has completed the acquisition of an 80 per cent stake in Distell Wines and Spirits Nigeria Limited.

In a statement filed with the Nigeria Exchange Limited on Saturday, the company said the completion of the transaction followed the approval of the South Africa Reserve Bank for the acquisition by Nigerian Breweries Plc of the shares of the South African entity, Distell International Limited (now known as Heineken Beverages Holdings Limited) in Distell Nigeria, as well as the import business of Distell International Limited in Nigeria.

At the company’s pre-AGM media briefing, the Managing Director/Chief Executive Officer of NB Plc, Hans Essaadi, said that the firm was eyeing June to close the Distell Nigeria deal to boost its Beyond-Beer agenda and strengthen its share in the wider beverages market.

Speaking on the completion of the acquisition, Essaadi said, “This acquisition is part of efforts to provide access to a complementary multi-category portfolio of fast-growing brands of wines and spirits market segment and capture significant growth opportunities in the wines and spirits segment of the brewing industry. We are excited to have the process completed and can’t wait to see how this transforms our business.”

In his remarks, the Managing Director of Distell Nigeria, Mr Steve Ighorimoto, stated that the acquisition was an exciting new chapter for the company as it would help increase the capacity necessary to achieve improved business performance.

“We are excited to be a part of Nigerian Breweries, as we share in the solid track record of growth, including a highly engaged, dynamic, experienced, and diverse team.

These changes will strengthen the organisation’s manufacturing, marketing, and distribution capabilities while ensuring sustainable growth and maximum value creation for all stakeholders,” he said.

Distell Nigeria is involved in the local production of wines and ciders under license from Heineken Beverages.

According to the brewer, with the acquisition, Nigerian Breweries will have access to both the local production and the importation of wines, spirits, and flavoured alcoholic beverages brands from South Africa, including Amarula Crèam Liquor, Nederburg, Drostdy-Hof, 4th Street, Bain’s Whiskey, Knight Whiskey, Scottish Leader Whiskey, Chamdor wine ranges, Hunters, and Savanna.