Consolidated Breweries is in discussions with Heineken N.V. to acquire two of the breweries that Heineken recently acquired from the Sana Group.

If successful, the discussions could lead to Consolidated Breweries acquiring controlling interests in Champion Breweries Plc, Uyo and Benue Brewery Limited, Makurdi. The transaction will be subject to the relevant legal and regulatory approvals.

Mr. Nico Pinotsis, the Managing Director of Consolidated Breweries said, “This proposed transaction will improve the geographic spread of Consolidated Breweries’ operations, enable the company to address existing capacity constraints and further strengthen its platform for future growth”.

He further disclosed that Consolidated Breweries had invested heavily in Nigeria in recent years, stressing that it remains committed to further development of the local beer market.  “The acquisition of these companies, if successful, will enable us to make further progress in a growing market” he added.

Consolidated Breweries was incorporated in 1980 and commenced operations in 1982. In 2009 the company acquired a 95 per cent  holding in DIL/Maltex Nigeria Pic. The company currently has 1,100 persons in its direct employment. The company produces and markets the following brands: “33” Lager Beer, Turbo King Dark Ale, Hi-Malt and Maltex.

Meanwhile, Champion Breweries Plc has announced plans to sell off 57 per cent of its issued share capital to Consolidated Breweries Plc.

The company, according to a notice made available to the Nigerian Stock Exchange (NSE) weekend, informed the investing community that it is holding discussions with Consolidated Breweries Plc in connection with a proposed acquisition of 57 per cent of its issued share capital held by Montgomery Ventures Incorporated of Panama.

According to the NSE, the discussions, if successful, could lead to a transaction that will be subject to the relevant legal and regulatory approvals.

The NSE noted that the company is mandated to inform it as the company becomes aware of further details of the deal.