-
Champion Breweries has proposed a one-for-one share exchange involving 11.32 billion shares to transfer its listed status to Champion Brands Plc.
-
Under the restructuring, Champion Breweries will become a wholly owned subsidiary, while its shares will be delisted from the NGX.
-
The company is targeting completion in the first quarter of 2027, subject to shareholder, court and regulatory approvals.
November 12, (THEWILL) – Champion Breweries Plc has proposed a corporate restructuring that will see Champion Brands Limited become the group’s new listed parent company on the Nigerian Exchange, replacing Champion Breweries, which will become a wholly owned subsidiary and be delisted.
Under the proposed Scheme of Arrangement, Champion Brands Limited will be re-registered as a public limited liability company, Champion Brands Plc, and assume the holding-company role for the group.
The proposal, disclosed in a company statement dated Wednesday, November 11, 2026, is aimed at reflecting the brewer’s expansion into a broader, multi-category African beverage business.
The restructuring will also bring Champion Breweries’ investment in enJOYbev B.V., whose portfolio includes the Bullet range of beverages, directly under the new holding company.
Shareholders to exchange 11.32 billion shares
The proposed arrangement provides for a one-for-one share exchange involving all 11,323,611,233 ordinary shares held by existing Champion Breweries shareholders.
Under the arrangement, each shareholder will receive one fully paid ordinary share in Champion Brands for every Champion Breweries share held, preserving their existing proportionate ownership in the expanded group.
The exchange will not require shareholders to make additional payments or submit separate applications for the new shares.
Following the transaction, Champion Breweries will become a wholly owned subsidiary of Champion Brands, while its shares will be removed from the NGX. Its interest in enJOYbev B.V. will also be transferred to the new parent company, making both businesses direct subsidiaries of Champion Brands.
The scheme requires shareholder approval, the sanction of the Federal High Court and other necessary regulatory clearances. A court-ordered shareholders’ meeting has been scheduled for December 3, 2026, to consider the proposal.
Champion Breweries expects the restructuring to be completed in the first quarter of 2027, subject to the required approvals. Its shares will continue trading on the NGX until the scheme is implemented.
The company’s Chairman, Imo-Abasi Jacob, said the new structure would provide greater flexibility in allocating capital, strengthening existing brands and expanding into new products and African markets.
He added that the restructuring would not alter shareholders’ proportionate ownership in the group.
READ ALSO:
Brewing operations to continue in Uyo
Champion Breweries said the proposed restructuring would not disrupt its existing operations, brands, employees, customers or suppliers.
Its Managing Director and Chief Executive Officer, Malolan Sampath, said the company would continue producing Champion Lager and Champ Malta at its brewing facility in Uyo, Akwa Ibom State.
The group’s wider operations would be coordinated through Champion Brands, with the existing brewer and enJOYbev B.V. operating as subsidiaries under the new holding company.
Champion Brands, once listed, will also be subject to the corporate governance and disclosure requirements applicable to companies quoted on the NGX.
Expansion into other beverage categories
The restructuring comes as Champion Breweries expands beyond its traditional beer and malt products into other beverage categories and African markets.
In February 2026, the company acquired an interest in enJOYbev B.V., gaining access to the Bullet portfolio of ready-to-drink and energy beverages distributed across 14 African markets.
It also entered into a partnership with Thistlerock Enterprises Limited, owner of Bature Brewery, to manufacture and distribute three craft beer brands in Nigeria: Lagos Lager, Black Gold Stout and Harmattan Haze.
The agreement provides for Champion Breweries to produce the brands at its Uyo facility and distribute them through its nationwide network, with an option to acquire the brands outright.
The expansion follows an increase in the brewer’s financial performance in 2025. Its revenue rose by 43 percent to N29.80bn, while profit before tax increased by 108 per cent to N2.65bn. Profit after tax also grew by 119 percent to N1.79bn.
The proposed holding-company structure is expected to provide a platform for the group to manage its expanding portfolio, allocate capital across its businesses and pursue further growth in African markets.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.