Urgent.News

What's breaking now, across thousands of outlets.

Business

Champion Breweries sets Dec. 3 court-ordered meeting to vote on NGX delisting, HoldCo restructuring

Champion Breweries Plc is moving forward with plans to delist its shares from the official list of Nigerian Exchange Limited read more Champion Breweries sets Dec. 3 court-ordered meeting to vote on NGX delisting, HoldCo restructuring

Champion Breweries sets Dec. 3 court-ordered meeting to vote on NGX delisting, HoldCo restructuring

Champion Breweries Plc and Thistlerock Enterprises Limited, the owners of Bature Brewery, have entered into a partnership to manufacture and distribute Bature's craft beers nationwide in Nigeria. This agreement also grants Champion Breweries the option to acquire three Bature brands, contingent on meeting sales performance milestones.

Champion will brew, package, and distribute Bature's core beers, namely Lagos Lager, Black Gold Stout, and Harmattan Haze, at its brewery in Uyo, Akwa Ibom State, utilizing its extensive national distribution network.

Bature Brewery, under the leadership of Kevin Conroy, retains ownership and control over product development, brand strategy, and consumer engagement while licensing the brands to Champion Breweries for manufacturing and distribution in Nigeria. The acquisition option, covering trademarks, recipes, and goodwill, would be exercised once the beers achieve sales of 40,000 hectolitres annually, at a pre-agreed performance-linked valuation, subject to corporate and regulatory approvals.

Champion Breweries' CEO, Malolan Sampath, expressed the company's ambition to build a diversified beverage business and leverage its manufacturing expertise and distribution network to bring distinctive Nigerian brands to more consumers. Bature Brewery's Co-founder and CEO, Kevin Conroy, highlighted the importance of this partnership in expanding the reach of Bature's award-winning beers across Nigeria while preserving the brand's creativity, originality, and passion.

The beers will be rolled out nationally in phases, commencing with Lagos Lager, set for launch at the Calabar Festival in December 2026, followed by Harmattan Haze in early 2027, and Black Gold Stout later that year.

Written by urgent.news from This Day's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.

This story

This is one outlet's version. Read the fullest account.

Read the original at businessday.ng →

More in Business

Copper rebounds on firmer risk sentiment and tight supply in China

LONDON: Copper prices recouped some of last week’s steep losses on Monday as risk sentiment improved while supply in China remained tight and the dollar slipped. Three-month copper on the London Metal Exchange (LME) rose 0.7% to $13,869 a metric ton by 1030 GMT, having lost 2.7% last week in its steepest weekly decline since March.

French Olympian Teddy Riner announces presidential bid

The gold medal-winning judoka wants to "show that we can turn France around."

  • Five-time Olympic gold medalist Teddy Riner announces presidential bid
  • Candidacy aims to revive France and address national despair
  • Riner seeks to instill ambition and hope, not aligned with parties

More from Monday 9 November →