Champion Breweries to Buy Sun Mark’s Bullet in Diversification Push

Champion Breweries Plc, a subsidiary of enJOYcorp, has agreed to acquire all brand assets and intellectual property of the Bullet range of ready-to-drink (RTD) alcoholic and energy beverages from Sun Mark International Limited.

The transaction is structured as an asset carve-out, with the assets to be held in a newly incorporated company in the Netherlands, according to a statement on the Nigerian Exchange Limited.

After the acquisition, Champion Breweries will hold a majority interest in the new business, while Vinar N.V, a Belgian entity and the majority shareholders of Sun Mark, will hold a minority stake, it said.

“Following completion of the acquisition, Champion Breweries Plc will consolidate the financial performance of Bullet’s assets into its reporting, reflecting both immediate benefits (e.g. FX earnings, distributor leverage) and long-term cost synergies through integrated supply chain, portfolio expansion, operational integration, product development and enhanced market presence,” it said.

Bullet is currently present in over 14 African markets, including Nigeria, Cameroon, Ghana, Ivory Coast, DRC, and Tanzania.

The transaction is subject to the receipt of the necessary regulatory approvals, including from the Federal Competition and Consumer Protection Commission, according to the statement.