Champion Brands Plc to replace Champion Breweries on NGX under proposed restructuring

Champion Breweries Plc has proposed a restructuring that would see Champion Brands Limited re-registered as Champion Brands Plc and listed on the Nigerian Exchange (NGX) as the group’s new parent company, replacing Champion Breweries, which will be delisted, subject to the necessary approvals.

The disclosure was contained in a press statement by the company seen by Nairametrics dated Wednesday, November 11, 2026.

Under the proposed arrangement, existing shareholders will exchange their Champion Breweries shares for an equivalent number of shares in Champion Brands, which will become the group’s new listed parent company, subject to shareholder and regulatory approvals.

Champion Breweries shareholders to exchange shares

The proposed Scheme of Arrangement will see Champion Brands Limited re-registered as a public limited liability company, Champion Brands Plc, and become the group’s new parent company on the NGX.

Champion Breweries will become a wholly owned subsidiary and be delisted from the Exchange, while its shareholding in enJOYbev B.V., the company behind the Bullet range of beverages, will be transferred to the new holding company.

The company described the proposed restructuring as a reflection of its evolution into a broader, multi-category African beverage business.

• “Champion Breweries Plc (NGX: CHAMPION) (“Champion Breweries” or the “Company”) has proposed a restructuring that would establish Champion Brands Limited (“Champion Brands” or “HoldCo”) as the new parent company of the group, reflecting its evolution into a broader, multi-category African beverage business.
• “Under the proposed Scheme of Arrangement, Champion Brands Limited will be re-registered as a public limited liability company, Champion Brands Plc, and become the group’s new parent company listed on Nigerian Exchange Limited (NGX). Champion Breweries Plc will become its subsidiary and be delisted, while enJOYbev B.V., whose portfolio includes the Bullet range of beverages, will also become a direct subsidiary of Champion Brands,” the statement read in part.

Under the proposed one-for-one share exchange, the 11,323,611,233 ordinary shares held by existing Champion Breweries shareholders will be exchanged for an equivalent number of fully paid shares in Champion Brands. This means shareholders will retain their proportionate ownership in the expanded group without making additional payments or applying separately for the new shares.

According to Chairman Imo-Abasi Jacob, the new structure is intended to provide greater flexibility in allocating capital, strengthen existing brands and support expansion into new products and African markets. He added that the restructuring would not change shareholders’ proportionate ownership.

Champion Breweries operations to continue in Uyo

Champion Breweries said its existing brewing operations would continue without disruption following the proposed restructuring. Its Managing Director and Chief Executive Officer, Malolan Sampath, said the arrangement would not affect the company’s operations, brands, employees, customers or suppliers.

• Champion Breweries will continue producing Champion Lager and Champ Malta at its brewing facility in Uyo, Akwa Ibom State.
• The wider group will operate under Champion Brands, with both Champion Breweries and enJOYbev B.V. becoming subsidiaries of the new holding company.
• Champion Brands, once listed, will be subject to the governance and disclosure requirements applicable to companies listed on the NGX.

The proposed Scheme requires shareholder approval, the sanction of the Federal High Court and other necessary regulatory approvals. Champion Breweries expects the restructuring to be completed in the first quarter of 2027, subject to the required approvals. Its shares will continue trading on the NGX pending implementation of the Scheme.

Champion Breweries expands beverage portfolio

The proposed restructuring comes as Champion Breweries expands its product range and presence across African markets. The company’s acquisition of enJOYbev B.V. from Sun Mark in February 2026 gave it access to the Bullet global brand portfolio, comprising ready-to-drink and energy beverages distributed across 14 African markets.

• Nairametrics recently reported that Champion Breweries had also partnered with Thistlerock Enterprises Limited, owner of Bature Brewery, to manufacture and distribute three craft beer brands across Nigeria.
• The agreement covers Lagos Lager, Black Gold Stout and Harmattan Haze, which Champion will produce at its Uyo brewery.
• The partnership includes an option for Champion Breweries to acquire the brands outright.

The products will be distributed through the company’s nationwide network.

The company reported revenue of N29.80 billion for the financial year ended December 2025, representing a 43% increase from the previous year. Profit after tax also rose by 119% to N1.79 billion.