Champion Breweries Acquires Bullet’s Brand Assets to Drive International Growth
- Champion Breweries Plc, a subsidiary of EnjoyCorp Limited, has acquired Bullet, a rapidly growing ready-to-drink (RTD) alcoholic and energy beverage brand, from Sun Mark International Limited
- The deal, which is still pending regulatory approval, will enhance Champion Breweries' foreign exchange earnings and expand its portfolio in high-growth categories
- With Bullet's strong market presence across 14 African countries, Champion Breweries aims to leverage the brand’s international footprint and strengthen its position for sustainable growth
Legit.ng journalist Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.
Bullet, one of Africa's rapidly expanding ready-to-drink (RTD) alcoholic and energy beverage portfolios, has been acquired by Champion Breweries Plc, a subsidiary of EnjoyCorp Limited, from Sun Mark International Limited.
Source: Getty Images
The announcement, made on Wednesday, stated that Champion Breweries will purchase all of Bullet's brand assets and intellectual property from Sun Mark.
The brands are expected to be held under a new Netherlands-based entity. Champion Breweries will take a majority interest, while Vinar N.V., the Belgian majority shareholder of Sun Mark, will retain a minority stake.
Champion Breweries claimed that the deal will increase its foreign exchange (FX) profits, although it is still pending regulatory approval.
Champion Breweries, based in Akwa Ibom, produces Champ Malt and Champion Lager beer. Additionally, the business provides Nigerian Breweries Plc with packaging services.
“With nearly five decades of brewing heritage since its incorporation in 1974 and as a publicly listed company on the Nigerian Exchange, Champion Breweries brings a track record of trust, quality, and market resilience to this landmark acquisition,” the statement reads.
“Bullet is an established leader in the RTD and energy drink segment in Nigeria, with its flagship product, Bullet Black, enjoying independent market leadership. The brand’s reach spans over 14 African countries, including Nigeria, Cameroon, Ghana, Côte d'Ivoire, DRC, and Tanzania. Notably, the Bullet transaction will significantly enhance Champion Breweries’ foreign exchange earnings, further strengthening Champion Breweries’ financial stability.”
“Bullet’s caffeine-free formulation distinguishes it in the energy drink category, targeting the fast-growing segment of consumers seeking healthier, non-caffeinated functional beverages.
Source: Getty Images
Imo-Abasi Jacob, Chairman of Champion Breweries, discussed the deal, stating that the potential acquisition would be a game-changer for the business.
“We will expand our portfolio to include high-growth categories with strong consumer demand,” Jacob said. “Bullet’s international footprint and brand strength perfectly align with our vision for sustainable growth and market leadership.”
David Butler, managing director of EnjoyCorp, said the brand has “tremendous potential as a truly global African brand.” “With its strong position in key markets and significant headroom for expansion, we will be poised to accelerate growth through new product launches, market entries, and strategic synergies across our operations, working with existing partners and strengthening the distribution reach of all products in our range,” Butler said.
Beer maker Champion Breweries posts over N800m profit
Legit.ng reported that Champion Breweries Plc has announced a remarkable financial performance for the year ending December 31, 2024, with a notable increase in profit after tax.
According to the company's audited financial statements, the brewery recorded a profit after tax of N816.99 million.
The 2024 profit after tax is a massive 120.5% rise from N370.56 million in 2023.
Source: Legit.ng
