Champion Breweries Reports 111% Revenue Surge, 692% Profit Growth After Bullet Acquisition

Champion Breweries Plc has posted a remarkable 111 per cent rise in revenue and a 692 per cent jump in profit after tax for the first half of 2025. The impressive results come as the Nigerian brewer consolidates its position in the market following the high-profile acquisition of Bullet, the country’s leading ready-to-drink alcoholic brand.

According to the company, the Bullet acquisition will contribute more than 70 per cent of Champion’s topline and broaden its foreign currency earnings across 14 African markets. Speaking at the Nigerian Exchange during a “Facts Behind the Figures” session, Managing Director Inalegwu Adoga described the deal as a game-changer that elevates the brewer from a regional player to a multi-market growth platform.

“This is a transformative moment for Champion Breweries. Bullet gives us scale, high-margin growth, and international reach,” Dr. Adoga said. “With this acquisition, we are evolving from a strong regional brewer into a multi-category growth platform with international relevance.”

To finance the acquisition and drive further expansion, Champion Breweries has launched a ₦58 billion capital-raising programme, comprising a ₦42 billion public offer and a ₦16 billion rights issue. The funds will be deployed to complete the Bullet deal, strengthen working capital, support market expansion, and fund sustainability initiatives, including renewable energy adoption and eco-friendly packaging.

Majority shareholder enJOYcorp underscored the long-term potential of the acquisition. Board member David Butler said Bullet would expand Champion’s reach across Africa, diversify its earnings into foreign currencies, and strengthen its product portfolio with trend-driven brands. Investor enthusiasm is already evident: Champion Breweries’ shares have surged 302 per cent on the NGX in the past year, reflecting growing confidence in its transformation strategy.

source: punch