The board of Nigerian Breweries Plc, last week, issued a notice of an extraordinary general meeting scheduled for Wednesday, December 20, 2023, where it plans to put before shareholders for consideration the acquisition of the 80% of Distell Wines and Spirits Nigeria Limited currently held by parent company- Heineken N.V.
NB also wants the meeting to approve its planned acquisition of 100% of Heineken Beverages’ import business and operations in Nigeria, which gives it an exclusive right to import all Heineken Beverages’ wines, spirits and ciders brands from South Africa, both at the cost of N7.01bn.
The transaction also gives NB the license to market and distribute the products in Nigeria, including the right to locally produce any of the imported brands, offering it an opportunity to a complimentary multi-category portfolio of fast-growing brands in the wines and spirits market segment and capture the significant growth opportunities in that market.
According to the offer circular, directors of NB believe “that the Transaction would create value for the shareholders and relevant stakeholders of the Company for the following reasons amongst others.”
Apart from providing NB with a complimentary multi-category portfolio, and strengthening its market share in the wider beverages market as it expands its product offerings to a wider consumer segment, the directors say the offer enhances its “long-term profitability through the addition of new product categories such as wines, spirits and flavored beverages, which are projected to grow at a higher rate than the lager, malt and stout categories.”
It is also expected to accelerate the growth of DWSN’s portfolio through Nigerian Breweries’ wide and strong route-to-market capabilities, in addition to migrating “part of the imported portfolio to local production on Nigerian Breweries’ platform presents an opportunity for expedited volume growth as well as growing the local production of wines and spirits.”

DWSN’s operation generated N4.9bn net revenue in the full year ended 30 June 2023, and an Earnings Before Interest Taxation, Depreciation and Amortisation (EBITDA) of ₦667m.
Meanwhile, Heineken Beverages’ import business in Nigeria comprises the importation, marketing and distribution of wines, spirits and RTD beverages from South Africa, consisting of Drostdy-Hof ranges, Nederburg ranges, JC Le Roux, Amarula cream liqueur, Bain’s Whisky, Scottish Leader Whisky, Zonnebloem, Knight Whisky, Durbanville Hills ranges, and Klipdrift Brandy.