Champion Breweries Plc has unveiled a comprehensive plan to raise N58 billion in fresh capital, a move designed to finance its acquisition of Bullet’s brand assets and intellectual property while supporting broader market expansion, technology upgrades, and sustainability initiatives.
The disclosure was made by the company’s Managing Director, Inalegwu Adoga, during the “Facts Behind the Figures” session at the Nigerian Exchange (NGX) on Monday, September 22, 2025. According to a statement issued by the Company Secretary, Chief Tosan Aiboni, the capital raise will be executed through a N42 billion public offer and a N16 billion rights issue.
Champion Breweries explained that proceeds from the fundraise will not only facilitate the acquisition of the Bullet ready-to-drink (RTD) alcoholic brand but will also be channeled into modernizing its operations. This includes the deployment of an Enterprise Resource Planning (ERP) system, adoption of returnable packaging solutions, renewable energy projects, and a revamp of logistics infrastructure—all aimed at boosting efficiency, sustainability, and long-term profitability.
The company’s management is optimistic about the acquisition’s transformative potential, projecting that revenue will increase more than fivefold, with profit after tax expected to grow tenfold once the deal is finalized. Bullet, which is widely recognized as one of the fastest-growing RTD alcoholic brands in Africa, is anticipated to contribute over 70% of Champion’s topline revenue, strengthening its foreign exchange earnings across 14 African markets.
The brewer’s recent financial performance underscores the momentum behind this strategy. In the first half of 2025, Champion Breweries reported a 111% increase in revenue and a 692% surge in profit after tax compared to the previous year. This remarkable turnaround highlights disciplined execution and sets the stage for accelerated growth once Bullet is integrated into the business.
Speaking at the NGX event, Adoga emphasized the scale of the opportunity:
“This is a transformative moment for Champion Breweries. Bullet gives us scale, high-margin growth, and international reach. With this acquisition, we are evolving from a strong regional brewer into a multi-market, multi-category growth platform with international relevance.”
Champion Breweries’ majority shareholder, enJOYcorp Limited, echoed this optimism, stressing the strategic importance of Bullet to Champion’s long-term ambitions. The Managing Director of enJOYcorp, David Butler, noted:
“Bullet expands Champion’s reach across Africa, diversifies its earnings into foreign currencies, and strengthens its portfolio with trend-driven products. This is a landmark step towards building transformative African beverage brands that can compete globally.”
Founded in 1974 and headquartered in Uyo, Akwa Ibom State, Champion Breweries Plc has more than five decades of brewing experience and is listed on the NGX. The company has built a diverse portfolio of beer and malt brands and continues to distinguish itself as a major player in Nigeria’s beverage industry.
Recent financial updates reinforce the company’s growth trajectory. In July 2025, Champion Breweries reported a pre-tax profit of N1.7 billion for the second quarter, marking a 268.95% increase from the N465.4 million recorded in the same quarter of 2024. This performance lifted its half-year pre-tax profit to N3.4 billion, a dramatic turnaround from the N333 million loss reported during the first half of 2024. Revenue from beer and malt sales also showed impressive growth, rising by 44.18% year-on-year to N7.4 billion in the second quarter.
The acquisition of Bullet’s assets from Sun Mark International Limited is expected to deliver both immediate and long-term benefits. In the short term, Champion will gain from expanded foreign exchange inflows and wider distribution networks across Africa. In the longer term, the company anticipates strengthened supply chain integration, brand diversification, and an enhanced market presence that will cement its position as one of the continent’s leading brewers.
Champion Breweries’ capital raise and acquisition strategy represent a pivotal step in transforming the company from a largely domestic player into a continental force, positioning it for global competitiveness in the beverage industry.
