Champion Breweries Plc has announced plans to raise N58 billion through a combination of public offer and rights issue to support its acquisition of Bullet brand assets, working capital, and strategic growth initiatives.
According to the Company Secretary, Chief Tosan Aiboni, the announcement was made by Managing Director Inalegwu Adoga during the company’s “Facts Behind the Figures” session at the Nigerian Exchange (NGX) on Monday, September 22, 2025.
The capital raise—comprising a N42 billion public offer and N16 billion rights issue—will also fund upgrades in technology infrastructure, including Enterprise Resource Planning (ERP) systems, returnable packaging solutions, renewable energy adoption, and logistics transformation.
Champion Breweries projects a fivefold increase in revenue and over tenfold growth in profit after tax following the acquisition of Bullet, a ready-to-drink (RTD) alcoholic brand. The deal is expected to contribute more than 70% of the company’s topline and significantly boost foreign currency earnings across 14 African markets.
In the first half of 2025, the company recorded a 111% surge in revenue and a 692% turnaround in profit after tax, signaling strong execution and positioning for sustained growth.
“This is a transformative moment for Champion Breweries,” said Adoga. “Bullet gives us scale, high-margin growth, and international reach. We are evolving from a strong regional brewer into a multi-market, multi-category growth platform with global relevance.”
David Butler, Managing Director of enJOYcorp—Champion Breweries’ majority shareholder—added, “Bullet expands Champion’s reach across Africa, diversifies its earnings into foreign currencies, and strengthens its portfolio with trend-driven products. This is a landmark step toward building transformative African beverage brands that can compete globally.”
Founded in 1974 and headquartered in Uyo, Akwa Ibom State, Champion Breweries Plc is a leading beverage company with over five decades of brewing excellence. The company is listed on the NGX and produces a diverse portfolio of beer and malt brands.
Earlier in July, Champion Breweries reported a pre-tax profit of N1.7 billion in Q2 2025—a 268.95% increase from the N465.4 million recorded in the same period last year. This brought its half-year pre-tax profit to N3.4 billion, a sharp recovery from the N333 million loss reported in H1 2024. The growth was driven by strong beer and malt sales, which rose to N7.4 billion, up 44.18% year-on-year.
The acquisition of Bullet from Sun Mark International Limited is expected to deliver immediate financial gains and long-term strategic benefits, including supply chain integration, expanded distribution, and enhanced market presence.
