Transaction Summary
Nigerian Breweries Plc (NB), Nigeria’s largest brewer listed on the Nigerian Stock Exchange NGX, has acquired the remaining 20% equity stake in Distell Wines and Spirits Nigeria Limited (DWSN) from minority shareholders Ekulo International Ltd. (10%) and Next International Nigeria Ltd. (10%). NB now wholly owns DWSN, acquiring an initial 80% majority stake from Distell International Limited in 2024. Established in 2018, DWSN specialises in producing and distributing wines, spirits, ciders, and ready-to-drink beverages, including popular brands Nederburg (wine), Amarula Cream Liqueur (spirits), and Hunter’s (cider). Before this acquisition, NB and DWSN were connected through mutual ties to Heineken NV (Heineken). NB is majority-owned (72.9%) by Heineken, while Distell International Limited (DWSN’s former parent company) operates under Distell Group Holdings Limited, wholly owned by Heineken after a 2023 acquisition. With this acquisition, NB aims to streamline decision-making and accelerate expansion beyond the beer market into higher-growth segments like wines and
