Nigerian Breweries Plc acquires remaining 20% stake in DWSN, hints at expanding beyond beer 

This was revealed in a disclosure published on the Nigerian Exchange on March 19, 2024, and signed by company secretary Uaboi G. Agbebaku.

The acquisition follows the execution of a sale and purchase agreement with the minority shareholders of DWSN: Ekulo International Limited and Next International Nigeria Limited, each holding a 10% stake.

Highlighting the advantages of the acquisition, Nigerian Breweries stated: “The full acquisition will help to reduce complexities and make decision-making faster in NB’s ambition to expand beyond beer.”

The release also noted that DWSN has moved its production from rented premises to NB’s facilities, allowing it to enhance its market share in the wines, spirits, and ready-to-drink (RTD) categories.

In June 2024, Nigerian Breweries announced its acquisition of an 80% stake in Distell Wines & Spirits Nigeria Limited and 100% of Heineken Beverages’ import business in Nigeria.

Following this transaction, DWSN became a subsidiary of Nigerian Breweries, which allowed the company to expand its operations to include the importation, marketing, and distribution of various wines, spirits, and cider products.

With this recent acquisition, Nigerian Breweries now owns 100% of Distell Wines and Spirits Nigeria Limited, compared to the 80% stake it previously held.

Nigerian Breweries Plc reported a significant growth in its full-year revenue for 2024, soaring by 80.8% year-over-year to reach N1.08 trillion, up from N599.6 billion in the prior year.

Ultimately, Nigerian Breweries reported a post-tax loss of N144.8 billion for FY 2024, as detailed in its full-year audited financial report released on the NGX on February 14, 2025.

In response to the challenges impacting net profit and to strengthen its financial position, Nigerian Breweries, with the support of its shareholders, initiated a business recovery plan in 2024, which included a Rights Issue.