International Breweries To Change Prices Of Popular Drinks From June 1

International Breweries To Change Prices Of Popular Drinks From June 1

  • International Breweries has announced plans to adjust prices for some of its drinks from June 1
  • The decision to increase is due to the rising cost of production and foreign exchange challenges
  • International Breweries produces popular brands like Trophy Lager and Betamalt, Milk Stout, Castle Lite, and Redds

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

International Breweries PLC has announced that the prices of some of its popular drinks will increase starting Saturday, June 1, 2024.

The decision is in response to rising production costs, driven by a combination of factors, including inflation and naira depreciation.

Beer drinks set to get more expensive
International breweries announces plan to increase product Photo credit: Kola Sulaimon
Source: Getty Images

The new price plan was disclosed in a notification by the company’s Head of Sales in the Eastern region, Olaleye Abimbola, to its business partners and distributors.

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The price change notification reads:

“This is to notify you, our valued business partner that we are reviewing the prices in our portfolio due to current market realities, as we work to enhance our pricing models to ensure you are best served by us.
“To this end, the review in the prices of our current selected SKUs will take effect from the 1st of June, 2024.”

Nairametrics reports that the products to be affected by the price review are:

  • Eagle Lager RB 600mlx12,
  • Eagle Extra Stout RB 600mlx12,
  • Trophy Stout 600ml x12,
  • Beta Malt Can 330mlx24,
  • Beta Malt PET 250mlx24,
  • Beta Malt PET 330mlx24,
  • Grand Malt CAN 330mlx24,
  • Grand Malt PET 250mlx24,
  • Grand Malt PET 330mlx24

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Other Nigerian brewer announces new prices

International Breweries is not the only company to have announced new prices; Nigerian Breweries has adjusted prices twice in 2024.

Similarly, Guinness and other consumer goods companies have announced similar price increases.

Nigerian Breweries moves to buy company

Earlier, Legit.ng reported that Nigerian Breweries Plc is contemplating the acquisition of Distell Wines and Spirits Nigeria Limited.

Distell Nigeria is a subsidiary of Distell International Limited, which is 100% owned by Heineken Beverages (Holdings).

According to NB corporate filings, it revealed that there is an offer on the ground from Heineken Beverages for Nigerian breweries to buy 80% shareholding in Distell Nigeria.

Source: Legit.ng

Authors:
Dave Ibemere avatar

Dave Ibemere (Senior Business Editor) Dave Ibemere is a senior business editor at Legit.ng. He is a financial journalist with over a decade of experience in print and online media. He also holds a Master's degree from the University of Lagos. He is a member of the African Academy for Open-Source Investigation (AAOSI), the Nigerian Institute of Public Relations and other media think tank groups. He previously worked with The Guardian, BusinessDay, and headed the business desk at Ripples Nigeria. Email: dave.ibemere@corp.legit.ng.

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