The board of Champion Breweries Plc can now go ahead to source N45 billion to inject into the business as part of its bold expansion drive.
The company received approval for this significant capital injection from shareholders at an Extraordinary General Meeting (EGM) held virtually on Thursday, July 24, 2025.
Recall that in 2024, EnjoyCorp Limited became the majority shareholder of the brewery company and since then, the firm has been on an upward trajectory, with its stock price rising at the Nigerian Exchange (NGX) Limited.
At the EGM, investors authorised the board to increase the share capital of the organisation to five billion shares, with fresh capital raise of N45 billion be raised by way of debt and bonds.
The proceeds will fund a landmark acquisition of key intellectual property and brand assets, underscoring Champion Breweries’ ambition to accelerate growth and strengthen its market leadership.
Under the resolutions passed, the capital raise will bolster the company’s balance sheet, enhance liquidity, and provide the financial flexibility required to execute an aggressive expansion and innovation programme.
Shareholders also endorsed the acquisition of select intellectual property and brand assets to broaden Champion Breweries’ portfolio, boost operational efficiency, and cement its position in Nigeria’s competitive beverage market.
The virtual EGM recorded robust shareholder participation, with voting conducted electronically and via proxy. In compliance with statutory requirements, the Register of Members was closed from July 7 to July 10, 2025, to facilitate seamless preparations.
The board expressed deep appreciation to shareholders for their unwavering support and reaffirmed its commitment to expanding operational capacity, broadening its product portfolio, and deploying capital prudently to deliver consistent returns while sustaining market leadership.
“We are extending our promotional reach with eco-friendly units already on the road. This capital raise empowers us to fast track growth, launch premium innovations, and deepen market presence, all while upholding our commitment to quality, sustainability, and long-term shareholder value,” the chairman of Champion Breweries, Mr Imo Abasi Jacob, stated.
Also, the Managing Director of the company, Mr Inalegwu Adoga, said, “Champion Breweries has consistently demonstrated resilience and potential, even as previous challenges required a stabilization phase. With this new era of industrial growth, we are poised to evolve beyond mere shelf presence to create meaningful market impact by positioning Champion Breweries as a driver of cultural and economic value.”