Champion Breweries Raises N42bn to Acquire Bullet Brands, Expands into Energy Drinks Market
Champion Breweries Plc has announced plans to raise N42 billion through a public offer of ordinary shares to fund its acquisition of the popular Bullet brand portfolio. The company said the move, disclosed in a statement on Sunday, is part of a broader N58 billion capital-raising strategy and complements an earlier rights issue. The public offer, priced at N16 per share, remains open until January 21, 2026, and aims to support the acquisition while boosting working capital for operations, innovation, and market expansion.
The acquisition marks a major shift for Champion Breweries, moving the company beyond traditional beer production into the high-growth ready-to-drink and energy beverage segment. Structured as an asset carve-out, the deal covers Bullet’s brands, trademarks, product formulas, packaging rights, commercial intellectual property, and distribution agreements across 14 African markets—but does not include the purchase of any manufacturing facilities.
Champion Breweries explained that the transaction provides immediate access to an established pan-African distribution network, which would otherwise take years to build organically. Production of Bullet products will continue through an existing European manufacturing partner, with plans to gradually localize production in Nigeria over time. The Bullet portfolio includes Bullet Black, Nigeria’s leading ready-to-drink alcoholic beverage, and Bullet Blue, a caffeine-free energy drink.
The Nigerian energy drink segment is one of the fastest-growing sectors in Africa’s FMCG industry, with projected annual growth of 14.53% through 2030, driven by rising urbanization and changing consumer lifestyles. Speaking on the acquisition, Champion Breweries’ Managing Director, Dr. Inalegwu Adoga, said: “The Bullet acquisition is strategically important because it adds proven brands, regional scale, and foreign-currency earnings through an asset-light structure. It strengthens Champion’s platform for long-term growth.”
David Butler, Group Managing Director of enJOYcorp, added that the deal would allow Champion Breweries to scale more efficiently across Africa. “Bullet brings together brands, demand, and distribution that are already established across multiple markets. This allows Champion to compete more effectively,” he said. The company also highlighted its improving financial performance, with revenue and earnings growth reflecting operational discipline and economies of scale. Prospective investors are advised to review the offer prospectus and consult professional advisers before investing.
source: punch