Browsing: Guinness Nigeria

• 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 …

Guinness Nigeria, a subsidiary of Diageo, will cease importing and distributing Diageo’s global brands, such as Johnnie Walker, starting April 2024 in a strategic shift that the firm says will help cushion itself from persistent forex hits. Instead, Johnnie Walker owner Diageo will establish a new subsidiary to import and distribute its range of spirits in the West and Central African markets after ending its seven-year-old contract with Guinness Nigeria.…

For the full year ended June 30, 2022, EABL reported EABL delivered its highest profit in five years of US$15.6 million, up 124 per cent.

EABL navigated rising inflation and increase in excise taxes through strategic pricing and effective cost management to post impressive figures.

Prior to his role at KBL, Musunga had a highly successful career at GSK working at senior levels in Eastern Africa, Southern Africa, and Europe.

Among other industry roles, he served as a Non-Executive Director for the Vision 2030 Board in Kenya, chaired the Kenya Association of Pharmaceuticals Industry and the Kenya HIV/AIDS Business Council.…