Champion Breweries Plc has proposed a restructuring that will create Champion Brands Limited as the group's new parent company, reflecting its expansion into a broader, multi-category African beverage business. Under the Scheme of Arrangement, Champion Brands will be re-registered as a public limited liability company and listed on Nigerian Exchange Limited (NGX), while Champion Breweries will become its subsidiary and be delisted from the exchange. EnJOYbev B.V., which produces the Bullet range of beverages, will also become a direct subsidiary of Champion Brands.
Existing shareholders will receive one Champion Brands share for every Champion Breweries share held, preserving their proportionate ownership at no additional cost. The 11,323,611,233 ordinary shares held by scheme shareholders will be exchanged for an equivalent number of fully paid ordinary shares in Champion Brands. Champion Breweries' shareholding in enJOYbev B.V. will be transferred to Champion Brands, bringing both businesses under the new parent company structure.
The board believes the holding-company structure better suits the scale and ambitions of the expanded group, offering three strategic advantages. Champion Brands will provide a clearer group identity and investment proposition, giving investors a better view of the group's portfolio and growth drivers. The structure also offers greater flexibility in capital allocation across the group's businesses and is designed as a platform for future growth into new products, beverage categories and African markets. Champion Breweries recently acquired enJOYbev B.V., expanding its product offering and geographic presence across 14 African markets.
Imo-Abasi Jacob, the company's chairman, said: "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. The proposed structure is designed not just for the business we have today, but for the group we intend to build over the long term." Malolan Sampath, managing director and CEO, added that "The group's operations, brands, employees, customers and suppliers are unaffected by the Scheme. Champion Breweries will continue producing Champion Lager and Champ Malta in Uyo."
The restructuring remains subject to shareholder approval and necessary regulatory approvals. The scheme is expected to be completed in the first quarter of 2027. A shareholder vote has been scheduled for December 3 under a court-ordered meeting. Champion Breweries shares will continue trading on NGX as normal pending implementation of the scheme. The board has unanimously recommended that shareholders vote in favour of the proposal.