Champion Breweries Plc has proposed a restructuring that would establish Champion Brands Limited as the new parent company of the group, reflecting its evolution into a broader, multi-category African beverage business.
Under the proposed Scheme of Arrangement, Champion Brands Limited will be re-registered as a public limited liability company, Champion Brands Plc, and become the group’s new parent company listed on Nigerian Exchange Limited.
Champion Breweries Plc will become its subsidiary and be delisted, while enJOYbev B.V., whose portfolio includes the Bullet range of beverages, will also become a direct subsidiary of Champion Brands. Under the Scheme, existing shareholders will receive one Champion Brands share for every Champion Breweries share held, preserving their proportionate ownership. The restructuring remains subject to the necessary approvals.
Under the proposed scheme, shareholders of Champion Breweries will exchange their existing shares for an equivalent number of fully paid ordinary shares in Champion Brands, maintaining their current ownership proportions without making additional payments.
The company disclosed the proposal in a statement, explaining that all 11.32 billion ordinary shares held by existing shareholders would be exchanged on a one-for-one basis.
Following the transaction, Champion Breweries will become a wholly owned subsidiary of Champion Brands, while its shareholding in enJOYbev B.V. will also be transferred to the new parent company. This will make both businesses direct subsidiaries of Champion Brands.
Champion Brands, after its conversion into a public limited liability company and subject to regulatory approvals, will become the group’s publicly listed parent, replacing Champion Breweries on the NGX.
The restructuring is expected to be completed in the first quarter of 2027, subject to shareholders’ approval, the sanction of the Federal High Court and other regulatory approvals.
The company said the proposed structure reflects its transition from a Nigerian brewing business into a broader beverage group following the acquisition of enJOYbev B.V., which brought the Bullet range of ready-to-drink and energy beverages into its portfolio.
Through the acquisition, the group expanded its product offering and market presence to 14 African countries.
Champion Breweries said the holding-company structure would provide a clearer investment proposition, improve flexibility in allocating capital across its businesses and create room for expansion into additional products, beverage categories and African markets.
The Chairman of Champion Breweries, Imo-Abasi Jacob, said the proposed restructuring was designed to accommodate the group’s long-term expansion plans.
“Our ambitions extend beyond the businesses and markets we serve today. We want to strengthen our existing brands, develop new products and pursue opportunities in new markets,” Jacob said.
He added that the transaction would change the group’s corporate structure without altering shareholders’ proportionate ownership.
The Managing Director and Chief Executive Officer, Malolan Sampath, said the restructuring would not affect the group’s operations, brands, employees, customers or suppliers.
He said Champion Breweries would continue producing Champion Lager and Champ Malta at its brewing facility in Uyo, Akwa Ibom State.
Under the arrangement, shareholders will receive one Champion Brands share for every Champion Breweries share held, with no dilution or additional payment required.
The company said shareholders would continue to hold an investment in a listed group, although the listed parent would change from Champion Breweries to Champion Brands.
The scheme will require shareholders’ approval before implementation. The company said the scheme document, containing details of the transaction and voting arrangements, was being made available to shareholders through its registrar, Africa Prudential Plc.
Champion Breweries shares will continue trading on the NGX pending the completion of the restructuring.
 Follow the MoneyCentral Nigeria channel on WhatsApp: Click here!
