Champion Breweries Plc has unveiled a significant restructuring initiative aimed at transitioning to a broader, multi-category African beverage company. The proposed Scheme of Arrangement would see Champion Brands Limited re-registered as a public limited liability company, Champion Brands Plc, which would become the new parent company for the group listed on the Nigerian Exchange Limited (NGX).
As per the proposed changes, Champion Breweries will be reclassified as a subsidiary and subsequently delisted. Additionally, enJOYbev B.V., which includes the Bullet range of beverages, will also become a direct subsidiary of Champion Brands.
Imo-Abasi Jacob, Chairman of Champion Breweries, stated the restructuring reflects the company’s ambitions and aims to strengthen existing brands, develop new products, and explore new markets. The new structure is designed for the long-term growth of the company and will not impact shareholders’ proportionate ownership.
Under the Scheme, existing shareholders will exchange one Champion Brands share for each share they hold in Champion Breweries, ensuring their ownership remains intact. This one-for-one share exchange will include over 11 billion ordinary shares of Champion Breweries.
Following the implementation, Champion Breweries will continue to operate its brewing facilities in Uyo, Akwa Ibom State, producing well-known products such as Champion Lager and Champ Malta. The transition is expected to bring various strategic advantages, including a clearer identity for investors and enhanced governance as Champion Brands will be subject to the regulations applicable to NGX-listed companies.
The proposed restructuring is still awaiting necessary regulatory approvals and shareholder consent and is anticipated to be completed in the first quarter of 2027. Meanwhile, shares of Champion Breweries will continue to trade normally on the NGX.
