EnjoyCorp acquires Heineken’s 100% stake in Champion Breweries

EnjoyCorp Limited, a food, beverage and hospitality firm has completed the acquisition of Heineken’s 100 per cent stake in Champion Breweries, producing Champion lager beer and Champ Malta.

Imo-Abasi Jacob, Chairman of Champion Breweries who disclosed this in a corporate filing on the Nigerian Exchange Limited (NGX), said the has completed the acquisition process amounting to 86 per cent state in Champion Breweries.

The acquisition comes four months after an agreement was reached with Heineken B.V. to acquire 100 percent of its shareholding in Champion Breweries Plc.

In 2021, Heineken had purchased 1.9 billion ordinary shares of Champion Breweries through Raysun. This was after the Dutch brewer acquired a 57 percent stake in the company in 2014.

Speaking in the statement, Jacob said the acquisition was completed after the approval of regulatory bodies.

“EnjoyCorp Limited has successfully completed the acquisition of 86.5 per cent stake in Champion Breweries plc, a prominent figure in the regional brewing industry,” the statement reads.

“EnjoyCorp acquired 100 per cent shareholding in The Raysun Nigeria Limited, which in turn holds the 86.5 per cent stake in Champion Breweries plc listed on the Nigerian Exchange Group.

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