Champion Breweries Plc has entered into an agreement to acquire the brand assets and intellectual property rights of the Bullet range of alcoholic and energy beverages from Sun Mark International Limited.
The company, a subsidiary of enJOYcorp, announced in a filing on the Nigerian Exchange (NGX) on August 20, 2025, that the acquisition of the Bullet energy beverage portfolio aligns with its strategy to diversify into high-growth food and beverage categories.
Structured as an asset carve-out, the deal will see the assets transferred to a newly incorporated company in the Netherlands, with Champion holding a majority stake and Vinar N.V., a Belgian entity and majority shareholder of Sun Mark, retaining a minority interest.
Champion noted that the transaction remains subject to regulatory approvals, including clearance from the Federal Competition and Consumer Protection Commission (FCCPC).
Once the acquisition is completed, Champion Breweries Plc will include Bullet’s assets in its financial reports, capturing immediate gains such as foreign exchange earnings and distributor reach, and long-term benefits from supply chain integration, product expansion, and stronger market presence.
Bullet already has a strong presence across 14 African markets, including Nigeria, Cameroon, Ghana, Ivory Coast, the Democratic Republic of Congo, and Tanzania. In Nigeria, Bullet Black is the leading ready-to-drink beverage, while Bullet Blue ranks among the top six energy drink brands.
This development follows a strong H1 2025 performance by Champion, which reported a pre-tax profit of N3.4 billion, compared with N333 million in the first half of 2024.
H1 Performance
Champion Breweries Plc reported a pre-tax profit of N1.7 billion in the second quarter of 2025, a 268.95% increase from N465.4 million in the same period last year. This brought half-year pre-tax profit to N3.4 billion, compared with a loss of N333 million in the first half of 2024.
- The growth was driven by stronger beer and malt sales, which rose 44.18% year-on-year to N7.4 billion in Q2, pushing total revenue for the half year to N15.9 billion, up 66.92%.
Cost of sales increased to N3.5 billion from N2.9 billion in Q2 2024, but gross profit still climbed 72.90% to N3.8 billion, from N2.2 billion last year. With no foreign exchange losses during the quarter, profit after tax rose 198.17% year-on-year to N1.3 billion.
As of June 2025, total assets stood at N25.9 billion, up 21.57%, while retained earnings grew 45.13% to N5.6 billion.
As of the close of trading on August 20, 2025, the company’s shares had gained over 418% year-to-date, with news of the recent acquisition expected to provide further momentum.
