Champion Breweries plc has agreed to acquire the Bullet energy drink from Sun Mark International Limited. This is part of the company’s efforts to diversify into the food and beverage sector.
The agreement was announced in a regulatory filing signed by Chief Tosan Atle Aibonito sent to the NGX by the company on Wednesday
“Champion Breweries Plc (“Champion Breweries” or “the Company”), a subsidiary of enJOYcorp, in line with its strategy to diversify into high-growth food and beverage categories, is pleased to announce it has entered into an agreement for the acquisition of all brand assets and intellectual
property of the Bullet range of ready-to-drink (RTD) alcoholic and energy beverages from Sun Mark International Limited (“Sun Mark”).”
Transaction Details
The transaction is structured as an asset carve-out, with the assets to be held in a newly incorporated company in the Netherlands. Post-acquisition, Champion Breweries Plc 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.
The transaction is subject to the receipt of the necessary regulatory approvals, including from the Federal Competition and Consumer Protection Commission (FCCPC).
Bullet Energy Drink is currently present in over 14 African markets, including Nigeria, Cameroon, Ghana, Ivory Coast, DRC, and Tanzania.
Blue energy drink ranks amongst the top six brands.
