Champion Breweries Launches N42 Billion Public Offer to Acquire Bullet Brand
Champion Breweries Plc has officially launched a N42 billion Public Offer of ordinary shares priced at N16 each to fund the acquisition of the popular Bullet brand portfolio. The offer, approved by the Securities and Exchange Commission (SEC) and the Nigerian Exchange Limited (NGX), opens on January 8 and closes on January 21, 2026, giving both retail and institutional investors a chance to participate in the company’s growth.
According to the company, the proceeds from this Public Offer, combined with funds raised from a prior N15.9 billion Rights Issue, will primarily be used to acquire Bullet’s brands, trademarks, recipes, and commercial rights across African markets. Additional funds are earmarked for working capital, route-to-market expansion, marketing, innovation, and capacity growth.
Dr. Inalegwu Adoga, Managing Director of Champion Breweries, described the offer as a “significant milestone” in the company’s growth journey. He emphasized that the acquisition merges nearly 50 years of brewing heritage with a proven pan-African ready-to-drink (RTD) and energy drink platform. David Butler, Group Managing Director of enJOYcorp, added that the asset carve-out structure allows the company to scale quickly while unlocking foreign-exchange earnings without heavy upfront investments.
The Bullet brand, one of Nigeria’s leading RTD alcoholic beverages and top energy drinks, operates in 14 African countries and contributes a significant portion of revenue in foreign currency. This positions Champion Breweries with a natural FX hedge while providing a strong platform for regional expansion. The company has demonstrated steady growth, with revenue increasing from N12.7 billion in 2023 to N20.9 billion in 2024, and net income rising from N370 million to N817 million during the same period.
The Public Offer is structured as 2,625,000,000 ordinary shares, fully payable on application, with Access Bank as the receiving bank. Rand Merchant Bank Nigeria Limited leads the issuing houses, with support from FBNQuest, FCMB Capital Markets, CardinalStone, Greenwich Merchant Bank, Chapel Hill Denham, Comercio Partners, and Fortress Capital Limited. Prospective investors are advised to review the prospectus carefully before subscribing.
source: nairametrics