EnjoyCorp Acquires 86.5% Stake in Champion Breweries Plc

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The Board of Champion Breweries Plc has announced the completion of an 86.5% stake acquisition by EnjoyCorp Limited. This acquisition was achieved through the purchase of 100% shareholding in The Raysun Nigeria Limited, which holds the majority stake in Champion Breweries, as per a company notice to the Nigerian Exchange Limited.

Following the approval of the Federal Competition and Consumer Protection Commission, EnjoyCorp now fully controls The Raysun Nigeria Limited. Despite the acquisition, Champion Breweries will remain listed on the Nigerian Exchange Group. EnjoyCorp plans to enhance shareholder value through strategic investments, aiming to enrich life’s moments with a diverse portfolio of brands.

EnjoyCorp’s entry into the beverage sector through this acquisition signifies its long-term commitment to the African consumer. Champion Breweries will become a key subsidiary within EnjoyCorp’s expanding portfolio, which includes food, beverage, and hospitality brands. The partnership is expected to strengthen Champion Breweries’ market position and unlock new growth opportunities, despite recent financial challenges, including a significant drop in profit after tax and profit before tax.

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