Champion Breweries to Raise ₦103 Billion for Bullet Energy Drink Acquisition and Expansion Drive
Champion Breweries Plc has unveiled an ambitious plan to raise ₦103 billion to finance the acquisition of Bullet Energy Drink and fund its long-term expansion in Nigeria and across Africa. The company announced the capital raising strategy at its “Fact Behind the Figures” presentation on the Nigerian Exchange Limited (NGX) in Lagos, describing it as the largest fundraising in its history.
Managing Director and Chief Executive Officer, Inalegwu Adoga, explained that the transaction will be a mix of equity and debt. About ₦58 billion will come from equity—₦42 billion through a rights issue to existing shareholders and ₦16 billion via a public offering to new investors—while ₦45 billion will be raised through a bond programme executed in tranches. The first series will target ₦30 billion, with the remaining ₦15 billion to follow.
According to Adoga, proceeds from the fundraising will be directed toward finalising the Bullet acquisition, bolstering working capital, and financing new packaging lines and technology upgrades. He emphasised investments in recyclable packaging materials and the creation of a robust digital backbone to support Champion’s operations, positioning the brewer for stronger market penetration and sustainable growth.
The fundraising comes on the back of strong financial results. Champion Breweries reported ₦16 billion in revenue for the first half of 2025, up 67 percent from the same period in 2024. Gross profit rose 111 percent to ₦8 billion, while profit after tax surged 692 percent to ₦2.3 billion. Chief Financial Officer Rasheed Adeboye said these results demonstrate resilience and provide a solid foundation for the company’s expansion plans, predicting a fivefold increase in profit after tax post-acquisition.
Non-Executive Director Eric Idiahi called Bullet a “game changer,” noting its position as Nigeria’s leading energy drink brand with about 80 million cans sold annually. Currently produced in Belgium and imported, Bullet will be manufactured locally once the deal is completed, reducing costs and creating export opportunities to 14 African countries. The acquisition is still subject to approvals from the Securities and Exchange Commission (SEC) and the Federal Competition and Consumer Protection Council (FCCPC)
source: the sun