Champion Breweries Reshapes Beverage Market, Projects Fivefold Revenue Growth

Kayode Tokede

Champion Breweries Plc has projected more than a five-fold increase in revenue and over 10 times growth in profit after tax following the acquisition of Bullet, Nigeria’s No. 1 ready-to-drink alcoholic brand.

Speaking at its “Facts Behind the Figures” session on the NGX Nigerian Exchange (NGX) in Lagos, the company said the deal is expected to contribute more than 70 per cent of Champion’s topline and significantly expand the Company’s foreign currency earnings across 14 African markets.

The Managing Director, Champion Breweries, Dr. Inalegwu Adoga, said, “This is a transformative moment for Champion Breweries.  Bullet gives us scale, high-margin growth, and international reach. With this acquisition, we are evolving from a strong regional brewer into a multi-market, multi-category growth platform with international relevance.”

Champion Breweries’ majority shareholder, enJOYcorp, reinforced the long-term ambition. “Bullet expands Champion’s reach across Africa, diversifies its earnings into foreign currencies, and strengthens its portfolio with trend-driven products,” said Mr. David Butler, Managing Director of enJOYcorp and Board Member of Champion. “This is a landmark step towards building transformative African beverage brands that can compete globally.” To support the acquisition and future expansion, Champion Breweries is launching a N58 billion capital raise programme (N42 billion public offer and N16 billion rights issue). Proceeds are earmarked for funding the Bullet deal, working capital, market expansion, and sustainability investments.