Champion Breweries Raises N16bn Via Rights Issue For Pan-African Growth

Champion Breweries Plc stated that its ongoing N16 billion rights issue will support the Company’s strategic acquisition of the Bullet brand portfolio and strengthen its pan-African growth platform.

The offer comprises 994,221,766 shares at N16.00 per share, which opened on November 24, 2025, and closes on January 5, 2026. The shares remain available for subscription to existing shareholders as of the qualification date of September 4, 2025.

The company stated that this capital raise marks the first phase of Champion’s strategic funding plan to support the proposed acquisition of the Bullet brand portfolio (subject to regulatory approval) to strengthen its pan-African growth platform.

It added that the net proceeds from the rights issue would be applied towards partial payment for the settlement of the acquisition of all brand assets and intellectual property of the Bullet range of ready-to-drink beverages.

Speaking, the managing director, Champion Breweries, Dr Inalegwu Adoga, said, “we are pleased with the progress of our rights issue and the strong engagement from our shareholder community.

“This exercise allows existing investors to participate directly in Champion’s next chapter, combining nearly 50 years of heritage with a fast-growing pan-African platform.”

Group managing director, EnjoyCorp, David Butler added that, “This rights issue reflects Champion’s continued commitment to disciplined, sustainable growth. The Bullet asset carve-out structure will provide immediate scale and FX earnings without heavy upfront investment. Our existing shareholders remain central to this transition.”

Champion Breweries continues to deliver strong financial performance. Revenue rose from N12.7 billion in 2023 to N20.9 billion in 2024, while net income increased from N370 million to N817 million over the same period.

In the first half of 2025, Champion reported revenue of N15.9 billion and net income of N2.3 billion, marking the strongest half-year performance in its history.

The acquisition of the Bullet will accelerate Champion’s evolution into a diversified, export-enabled beverage company with strengthened earnings capacity and a broader consumer base across Africa.