Nigerian Breweries Plc has said it is considering the acquisition of stakes in a wine firm, Distell Wines & Spirits Nigeria Limited.
This was disclosed in a statement signed by the Company Secretary, Uaboi Agbebaku, on Wednesday.
NB said it received the offer to acquire the majority stake in Distell Wines at a specially convened meeting of the Board of Directors of the company held on Tuesday.
“The Board was presented with an offer from Heineken Beverages (Holdings) Limited of South Africa, for NB to acquire Heineken Beverages’ majority interests (via Distell International Limited) in Distell Wines & Spirits Nigeria Limited.
“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 outcome of the decision will be communicated in due course,” part of the statement said.
Distell Nigeria is involved in the local production of wines and ciders; as well as the importation of wines, spirits and flavoured alcoholic beverages.
Heineken Beverages owns 100 per cent of Distell International Limited, whose subsidiary is Distell Nigeria. Distell Nigeria founded in 2018 has its headquarters in Lagos.
This development comes up weeks after the global brewer, Heineken completed the acquisition of Distell and Namibia breweries.
Commenting on the acquisition, Dolf van den Brink, Heineken’s CEO and Chairman of the board executive said, “We are delighted to welcome over 5,400 talented employees of Distell and Namibia Breweries into HEINEKEN and look forward to adding more than €1 billion in net revenue and €150 million operating profit to our African footprint.
“By combining the strengths of all three entities, we can leverage our expertise and resources to foster growth, create jobs, and contribute to the overall economic development of the region.”