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Browsing: Diageo CEO Debra Crew
- Singaporean firm Tolaram will acquire Diageo’s 58.02% shareholding in Guinness Nigeria PLC.
- Tolaram has significant and extensive operations and a 50-year presence in Nigeria.
- Diageo will also remain in the country through its wholly owned international premium spirits business built to serve a wider geographic reach across West Africa, with Nigeria as one of the main operational hubs.
In a major shake-up in Africa’s beverage industry, Guinness Nigeria has announced that Tolaram, a Singaporean company, has signed an agreement to acquire UK-based Diageo’s 58.02 per cent shareholding in the company. This acquisition is set to be completed in 2025, subject to regulatory approvals in Nigeria.
In the deal, Diageo will retain ownership of the Guinness brand, and it will be licensed to Guinness Nigeria for the long-term, enabling its continued growth and development in the country under the stewardship of Tolaram.
Abidemi Ademola, Guinness Nigeria’s secretary and legal director disclosed …