By Peter Egwuatu
Consolidated Breweries Â Â Â Plc, one of the foremost beverage companies in Nigeria, has obtained permission from the regulatory authorities to acquire the majority stake holding in Dumex Industries Limited (DIL)/Maltex, a subsidiary of CFAO Nigeria Plc. This was made possible following the decision of CFAO to divest from DIL/Maltex by offering its 95.05% equity holding to Consolidated Breweries Plc.
DIL/Maltex are the owners of the Maltex brand, the oldest malt brand in the country. The acquisition gives Consolidated Breweries Plc access to the Maltex brand with its long history and heritage in Nigeria.
With this development, Consolidated Breweries Plc, will further strengthen its position in the highly competitive beverage industry and increase its role in the Nigerian economy.
It is believed that Consolidated Breweries will apply its knowledge of the beverage industry to further develop the Maltex brand for greater acceptability, profitability and enhanced market share.
For the stakeholders of Consolidated Breweries, the deal holds enormous opportunities. This is because of the expectations of an improved financial performance from an increased brand portfolio, additional production capacity and a focused management.
While appealing for support of the new management, the company, which produces and markets the popular â€œ33â€ Export lager beer, Turbo King Dark Ale and Hi-Malt brands asked for the co-operation of the employees of DIL/Maltex in facing the challenges that will be involved in repositioning the company and harnessing the potential of the Maltex brand.
Distributors of DIL/Maltex have been assured that in the meantime, they will continue to enjoy the maximum support of the DIL/Maltex organisation to facilitate their operations and position them to effectively take advantage of the improved business opportunities.