NB Set To Consolidate Heineken’s 80% Stake In Distell Wines

Nigerian Breweries Plc, on Wednesday announced through the Nigerian Exchange Limited that at a specially convened meeting on May 30, 2023, its board was presented with an offer from Heineken Beverages (Holdings) Limited of South Africa to acquire the 80% stake of its core investor- Heineken Beverages (via Distell International Limited) in Distell Wines & Spirits Nigeria Limited.
The statement by Uaboi G. Agbebaku, Company Secretary, said NB’s “board resolved to consider the offer in detail with support from external legal and financial advisers and thereafter make a decision thereon in the coming weeks. The outcome of the decision will be communicated in due course.”
According to the statement, Distell Nigeria is a subsidiary of Distell International Limited, which is 100% owned by Heineken Beverages. Distell International Limited owns 80% shareholding in Distell Nigeria founded in 2018 with headquarters in Lagos, Nigeria. It produces local wines (still and sparkling) and ciders; and is also into importation of wines, spirits and flavoured alcoholic beverages from Distell Group in South Africa.
Its brand portfolio include: Amarula, JC Leroux, Nederburg, Drostdy Haf, 4th Street, Bain’s, Knights, Chamdor, Hunters and Savanna.