Home » Fermentation Craft » Nigerian Breweries Moves to Acquire Another Wine Company, Shuts Down Two Plants

Nigerian Breweries Moves to Acquire Another Wine Company, Shuts Down Two Plants

David Miller • • 3 min read
Nigerian Breweries Moves to Acquire Another Wine Company, Shuts Down Two Plants

From major highlights to background context, understand everything about Nigerian Breweries Moves to Acquire Another Wine Company, Shuts Down Two Plants in our latest feature.

The company said it would shut down two of its nine breweries in Nigeria as part of its reorganisation plans.

Read also

Dangote Refinery gives date to begin sale of fuel as more crude oil arrives from US for production

The company has been battling FX losses and dollar scarcity.

In June last year, Nigeria Breweries disclosed plans to acquire an 80% stake in Distell Wines and Spirits Nigerian Limited as part of its efforts to capture essential growth opportunities in the wines and spirits segment of the industry.

Punch reports that the announcement is in a notification of the proposal sent to Nigeria Exchange Limited (NGX) and signed by the firm secretary, Uaboi Agbebaku.

It also stated that the company received an offer from Heineken Beverages Limited to acquire an 80% majority stake in Distell Wines & Spirits.

David Miller
Author

David Miller

David Miller brings 15 years of experience in global economics, personal finance strategy, and market dynamics. He specializes in turning complex economic trends into actionable insights for everyday readers.